Rupiah Opened Weakened, Hoping For A Strengthening Effect From The Stimulus Of The Affected Countries Of COVID-19

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate on the spot market has reopened to weaken. The rupiah opened down 65 points or 0.43 percent to a level of Rp15,288 per US dollar.

Based on VOI's monitoring, at 8:45 a.m., the rupiah was still moving weaker. The rupiah weakened 0.61 percent or 93 points to a level of Rp15,315 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said this morning a number of central banks affected by the corona were committed to launching additional stimulus programs such as the Central Bank of Japan and Europe.

"The European Central Bank will launch an asset / bond purchase program of 750 billion euros. Meanwhile, the Bank of Japan intends to increase the current stimulus," Ariston told VOI.

However, he said, not all risk assets moved positively this morning. Only the Nikkei index looks positive. Other Asian stock indexes such as Hong Kong, China and Korea are still negative this morning.

"Therefore, the pressure on the rupiah may continue today. The potential is moving in the range of Rp15,250-15,500 per US dollar.

This morning, all Asian currencies were in the red zone, aka weakening. The South Korean won was the currency with the deepest weakness after falling 1.45 percent this morning.

Following that, the Japanese yen fell 0.62 percent and the Taiwan dollar fell 0.32 percent. The Thai baht and Malaysian ringgit also eroded 0.21 percent and 0.19 percent, respectively.

The same thing happened to the Singapore dollar and the Philippine peso, which depreciated by 0.15 percent and 0.04 percent, respectively. Meanwhile, the Hong Kong dollar was the currency with the lowest weakness after only slightly losing 0.01 percent against the US dollar.