JAKARTA - The rupiah exchange rate closed lower and almost touched the level of Rp15,000 per US dollar at the close of trading Monday, March 16. Today the rupiah closed down 1.04 percent to a level of Rp14,933 per US dollar.
Head of Research at Monex Investindo Futures, Ariston Tjendra said, the weakening of the rupiah was mainly due to fears of a pandemic outbreak of the corona virus or COVID-19.
"You can see that the Asian stock index has actually dropped, it means that the Fed's stimulus has not had a positive impact on risk assets," Ariston told VOI.
Rupiah weakened along with the majority of other Asian currencies. Apart from the rupiah, the Korean won also weakened 0.52 percent against the US dollar, the Philippine peso weakened 0.50 percent, the Taiwan dollar weakened 0.11 percent, the Malaysian ringgit weakened 0.65 percent, and the Singapore dollar weakened 0.44 percent, against the dollar. US.
Meanwhile, Asian currencies that strengthened against the US dollar were the Japanese yen, Chinese yuan and Hong Kong dollar.
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