On Thursday, Rupiah Was Opened To Weaken 0.33 Percent To Rp16,505 Per US Dollar

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate on the spot market was opened lower on Thursday, April 2 trading. The rupiah opened lower by 0.33 percent or 55 points to a level of Rp16,505 per US dollar.

Monex Investindo Futures Head Researcher, Ariston Tjendra, said risky asset prices were still negative this morning.

"The market is still comfortable getting out of risk assets due to the increasing spread of the COVID-19 outbreak," explained Ariston to VOI.

Meanwhile, the yield on the 10-year US government bond is seen weakening again to around 0.57 percent, approaching the all-time low that occurred on March 9, 2020 at 0.36 percent.

"This could indicate that the demand for bonds is high, so that prices go up and the level of yields falls," he said.

He said, positive cases of COVID-19 in the US had touched 200 thousand. The increase also occurred in Italy, England, including Indonesia.

"If this continues, the market is worried that the economy will continue to be depressed, such as the economic data that has just been released. Today's rupiah has the potential to be in the range of Rp. 16,300-16,575 per US dollar," he explained.