Rupiah Has Sunk And Has Reached IDR 15,223 Per US Dollar

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate on the spot market was closed lower on trading Wednesday, March 18. The rupiah weakened 50 points or 0.33 percent to a level of Rp15,223 per US dollar.

Monex Investindo Futures Head of Research, Ariston Tjendra said, it seems that the market is still anticipating an economic slowdown due to the corona virus or COVID-19.

"The Indonesian government has also stated that state revenue has decreased by 0.5 percent compared to last year's growth of 8.5 percent," said Ariston to VOI.

This afternoon, the rupiah weakened along with several currencies in the Asian region. The Thai baht was the weakest weaker, weakening 0.98 percent. The Singapore dollar weakened 0.62 percent.

Meanwhile the Malaysian ringgit weakened 0.51 percent, the Chinese yuan weakened 0.27 percent, the Indian rupee weakened 0.17 percent, the Korean won weakened 0.16 percent, the Taiwan dollar weakened 0.12 percent, and the Hong Kong dollar weakened 0.08 percent.