Rupiah Weakened 0.86 Percent To Rp16,450 Per US Dollar

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate was closed helplessly on trading Wednesday, April 1. The rupiah exchange rate weakened 140 points or 0.86 percent to a level of Rp16,450 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that from the morning, negative sentiment had overshadowed global financial markets. Indonesia is certainly affected.

"The market is still worried about the increase in the spread of the corona virus or COVID-19 outbreak which has caused the weakening of economic indicators such as in Indonesia, where the inflation rate in March is quite low which means a decrease in consumption or demand," said Ariston to VOI.

According to Ariston, the Indonesian government's stimulus should be able to ease those worries. But if the source of the problem cannot be ascertained when it will be resolved, worries will continue to exist.

This afternoon, the rupiah weakened compactly with a series of other Asian currencies. Starting from the Japanese yen, Hong Kong dollar, Singapore dollar, Malaysian ringgit and Thai baht. The Korean won was the weakest one, weakening 1 percent against the US dollar.