Tuesday Morning Rupiah Slightly Weakened By 0.05 Percent To Rp16,345 Per US Dollar

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate on the spot market was observed to have slightly weakened at the opening of trading on Tuesday, March 31. The rupiah weakened 7 points or 0.05 percent to a level of Rp16,345 per US dollar.

Monex Investindo Futures Head Researcher, Ariston Tjendra said, today the rupiah could get a positive sentiment from the government's version of China's manufacturing and non-manufacturing activity index data for March which was released that exceeded expectations and entered the expansion zone, 52.0 vs 44.9 and 52. , 3 vs 42.1.

"These results show China's economic recovery after successfully overcoming the pandemic of the corona outbreak or COVID-19. China's economic recovery can help its partner countries' economies that need materials and the Chinese market," Ariston told VOI.

In addition, he said, the strengthening of the US stock index could also provide positive sentiment to the rupiah today. The Dow Jones Index closed up 3.19 percent.

"The potential for the rupiah today may lead to support at Rp16,200 with resistance at Rp16,400 per US dollar," he explained.

The increase in the spread of the corona outbreak, said Ariston, is still a negative sentiment towards the rupiah, because the main problem of overcoming the pandemic outbreak has not been resolved.