JAKARTA - The rupiah exchange rate is increasingly powerless in front of the United States dollar (US). At the opening of trading Monday, March 23, the rupiah on the spot market weakened 0.09 percent to a level of Rp 15,975 per US dollar.
Head of Research at Monex Investindo Futurs, Ariston Tjendra, said that the rupiah might be under pressure again today following the negative sentiment that overshadowed the movement of risky assets this morning.
"This morning, the US stock index futures, the Australian stock index, Nikkei and Kospi were moving negatively as well as some Asian eyes that weakened against the US dollar," Ariston told VOI.
Concern over the increasing spread of the corona virus (COVID-19) coupled with the US government's US $ 1.3-2 trillion stimulus which has not reached an agreement with the US Senate, is the cause of this negative sentiment.
On the other hand, WHO still continues to report an increase in cases of transmission of the corona outbreak in the world which have reached 294 thousand positive. Meanwhile the market is still waiting for the news of the US government's stimulus agreement tonight.
"If agreed, this can help provide positive sentiment to the financial market because of the large stimulus," said Ariston.
He estimates that the rupiah's movement today has the potential to weaken with a movement range of Rp15,900-16,225 per US dollar.
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