Rupiah Exchange Rate Approximately Rp15,000 Per US Dollar

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate opened today by 0.81 percent lower to the level of Rp14,649 per US dollar. Analysts also think that this weakening trend will continue amid market concerns due to the corona virus or COVID-19.

Quoting Bloomberg, until 10:39 a.m., the rupiah was still moving weaker, even up to 2.05 percent. The rupiah is at the level of Rp.14,820 per US dollar, or has decreased by 5.58 percent compared to the beginning of January 2020.

Even at the Jakarta Interbank Spot Dollar Tate (JISDOR) exchange rate, the rupiah was recorded at the level of Rp14,815 per US dollar. The figure. Since COVID-19 has entered Indonesia, on March 2, 2020, the rupiah has never moved from the level of IDR 14,000 per US dollar.

So, will this weakening trend bring the rupiah back to Rp. 15,000 per US dollar? According to Monex Investindo Futures Head of Research, this could happen.

"Weakening to Rp15,000 per US dollar is still very open. Market concerns are still very high due to COVID-19," Ariston told VOI, Friday, March 13.

The market is in turmoil after WHO declared COVID-19 a pandemic. Stock indices in various countries in Asia also fell quite deeply, as experienced in Indonesia.

"Indices such as the Nikkei and Hangseng were helpless, dropping by 5 percent. IHSG also fell 5 percent today, like yesterday," he said.

Collapsed JCI

Today, stock trading on the Indonesia Stock Exchange (IDX) was temporarily suspended again (trading halt) at 9:15 a.m. Jakarta Automated Trading System (JATS) time after the JCI fell 245.16 points or 5.01 percent to 4,650.58.

This temporary suspension of trading is carried out in accordance with the Decree of the Board of Directors of the Indonesia Stock Exchange Number: Kep-00024 / BEI / 03-2020 dated March 10, 2020 regarding Changes in Guidelines for Handling Trade Continuity on the Indonesia Stock Exchange in Emergency Conditions.

Yesterday, Thursday 12 March, stock trading on the IDX was also temporarily suspended at 15:33 the Jakarta Automated Trading System (JATS) which was triggered by a decrease in the Composite Stock Price Index (IHSG) reaching 5.01 percent.