JAKARTA - The rupiah exchange rate on the spot market was closed lower today on Tuesday, May 12. The rupiah closed down 0.07 percent at the level of Rp14,905 per US dollar.
Head of Research at Monex Investindo Futures, Ariston Tjendra, said that since this morning negative sentiment entered the financial market this morning because the market was worried about a second wave of COVID-19 cases in a country that was loosening lockdowns.
China reported an additional 15 cases of OTG and 1 positive case. Yesterday China also reported an additional 5 new cases.
Other countries such as South Korea and Germany also reported additional positive cases after easing lockdowns. This negative sentiment has pushed down risk assets, including the rupiah.
This afternoon, the rupiah weakened along with several other Asian currencies such as the Korean won which weakened 0.36 percent, the Taiwan dollar weakened 0.19 percent, the Malaysian ringgit weakened 0.02 percent, and the Hong Kong dollar weakened 0.001 percent against the US dollar.
Meanwhile, several other Asian currencies strengthened against the US dollar until 15:00 WIB, led by the Thai baht which strengthened 0.26 percent against the US dollar.
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