JAKARTA - The rupiah exchange rate was opened to weaken at the opening of trading Monday, March 9. The rupiah weakened 12 points or 0.08 percent to a level of Rp14,255 per US dollar.
Head of Research at Monex Investindo Futures Ariston Tjendra said concern over the spread of the corona virus would still be a negative sentiment for the rupiah today.
This morning saw the price of gold rose above the range of 1,700 US dollars per troy ounce, and WTI crude oil broke below the area of 30 US dollars per barrel indicating heightened concerns.
"Coverage in the mass media regarding COVID-19 continues to inform the increasing number of infections and deaths outside of China, including Indonesia. The global economy and Indonesia are expected to experience a slowdown due to this outbreak," Ariston told VOI.
He predicts that today's rupiah will move in the range of IDR 14,200-14,400.
This morning, the majority of other Asian currencies strengthened against the US dollar. The Japanese yen led the strengthening of Asian currencies against the US dollar this morning, strengthening 1.19 percent.
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