JAKARTA - The rupiah exchange rate was opened to weaken on trading Thursday, April 16. VOI monitored at 09:12, the rupiah weakened 0.60 percent or 94 points to a level of Rp15,669 per US dollar (US).
Head of Research at Monex Investindo Futures, Ariston Tjendra, said negative sentiment returned to financial markets this morning after market players saw US economic data.
"That is, the retail sales data for March fell in 8.7 percent (the deepest drop since 1992) and the manufacturing activity index in the New York area also plunged to 78.2," Ariston told VOI.
He added that the US Central Bank report also shows that the world's largest economy will worsen its economic conditions in the future, including the unemployment rate will continue to rise, due to the cessation of economic activity due to the outbreak.
"Previously, the IMF has issued a negative global economic growth projection in 2020 due to the epidemic that has stopped or reduced economic activity," he said.
He estimates that the rupiah has the potential to reverse weaken today following the global negative sentiment with a potential in the range of Rp15,550-15,750 per US dollar.
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