JAKARTA - The rupiah exchange rate on the spot market was closed lower on trading Tuesday, April 21. The rupiah weakened 0.35 percent to the level of Rp15,468 per US dollar (US).
Monex Investindo Futures Head Researcher, Ariston Tjendra said, the weakening of the rupiah was due to negative sentiment from the global where oil futures prices fell below 0 US dollars, or minus
"The decline indicates that the economy is still slumping due to the COVID-19 outbreak," Ariston told VOI.
Rupiah weakened along with the majority of other Asian currencies. The South Korean won led the weakening of Asian currencies against the US dollar by 0.75 percent weakening, followed by the Singapore dollar weakening 0.47 percent, the Malaysian ringgit fell 0.43 percent.
Then, the Indian rupee weakened 0.38 percent, the Chinese yuan weakened 0.19 percent, the Taiwan dollar weakened 0.17 percent and the Philippine pesso weakened 0.03 percent against the US dollar.
Meanwhile, the Japanese yen, Thai baht and Hong Kong dollar strengthened against the US dollar this afternoon by strengthening 0.21 percent, 0.11 percent and 0.003 percent, respectively.
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