The Rupiah At The Beginning Of The Week Opened, Getting Further Away From Rp.13,000 Per US Dollar

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market opened lower in trading earlier this week, Monday 22 June. The rupiah opened down 8 points to a level of Rp14,108 per US dollar (US).

Based on VOI's observation, at 09:10 WIB, the rupiah continued to weaken, away from the Rp13,000 level. The rupiah was at the level of Rp. 14,128 per US dollar, or a decrease of 28 points (0.19 percent).

Head of Research at Monex Investindo Futures, Ariston Tjendra, said the news of the increasing spread of the COVID-19 virus outbreak in the US, Germany and China throughout the weekend could be a negative sentiment to risk assets today.

"Even though these three countries have reopened their economies and the epidemic has increased again," said Ariston to VOI.

This negative sentiment, according to Ariston, could also trigger the weakening of the rupiah as a risky asset. The rupiah also has the opportunity to weaken against the US dollar towards resistance at Rp14,200 with support in the range of Rp14,050.

This morning, the majority of currencies in the Asian region weakened against the US dollar. The downturn was led by the South Korean won, which fell 0.28 percent.

Followed by the Malaysian ringgit which weakened 0.17 percent, the Chinese yuan which weakened 0.15 percent. Then the Indian rupee and the Taiwan dollar fell 0.06 percent and 0.04 percent, respectively. The Japanese yen also lost 0.03 percent.

Meanwhile, the currency that strengthened against the US dollar was led by the Thai baht which appreciated 0.12 percent. Followed by the Singapore dollar which strengthened 0.09 percent.