Monday Rupiah Dropped 50 Points To Rp14,150 Per US Dollar

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market closed lower on Monday, June 22 trading. The rupiah weakened 0.35 percent or 50 points to a level of Rp14,150 per United States dollar (US).

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the weakening of the rupiah was due to global sentiment that was concerned about positive cases of transmission of the COVID-19 virus which continued to increase around the world.

"The second wave is seen in China and Germany which have previously managed to contain the virus. The market is concerned that this addition will make it difficult for the economy to recover quickly," Ariston told VOI.

This afternoon, the currencies in the region were mixed. The South Korean won became the currency with the deepest weakness after falling 0.47 percent against the US dollar.

Next there is the Malaysian ringgit which fell 0.23 percent. This was followed by the Philippine peso which fell 0.13 percent.

Furthermore, the Taiwan dollar and the Chinese yuan both depreciated 0.08 percent and the Japanese yen weakened 0.07 percent.

Meanwhile, the Indian rupee became the currency with the highest strengthening today. The rupee managed to gain 0.26 percent against the US dollar.

Then there was the Singapore dollar and Thai baht which rose by 0.14 percent and 0.11 percent, respectively. Then, the Hong Kong dollar is seen edging up 0.003 percent.