JAKARTA - The rupiah exchange rate closed lower against the US dollar in today's trading. The rupiah weakened 167 points or 1.04 percent to a level of Rp16,338 per US dollar.
Head of Research at Monex Investindo Futures, Ariston Tjendra, said negative sentiment remained, especially for risky assets, including the rupiah.
"The development of the outbreak, which is still increasing, is a major concern for the market, as happened in the US and Europe. Indonesia is the same. And the impact has also been seen in the slowdown in global economic activity," said Ariston to VOI.
The weakening of the rupiah today is the opposite of the strengthening trend last week. The rupiah was raised because foreigners could return to the domestic stock and bond markets.
However, as there are still concerns about the corona virus or COVID-19 and the increasing number of victims in several countries, it still has the potential to depress the rupiah in the next few days.
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