JAKARTA - The rupiah exchange rate on the spot market closed lower today on Thursday, June 25th. The rupiah weakened 0.32 percent or 45 points to a level of Rp14,175 per US dollar (US).
Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the weakening of the rupiah was influenced by the tug of war between hopes of economic recovery and fears of additional COVID-19 cases.
"Today the concern is getting higher with a number of countries reporting new cases even though they have succeeded in controlling cases and reopening their economies. This is putting pressure on the rupiah," Ariston told VOI.
This afternoon, the majority of currencies in Asia weakened against the US dollar. The weakness was led by the South Korean won, which fell 0.41 percent.
Followed by the rupiah, then China which weakened 0.28 percent. The Japanese yen and Malaysian ringgit weakened 0.14 percent and 0.12 percent, respectively.
The Thai baht weakened 0.07 percent. The Philippine peso also depreciated 0.06 percent.
Meanwhile, currencies that strengthened against the US dollar were the Taiwan dollar (0.24 percent), the Singapore dollar and the Indian rupee which both gained 0.11 percent.
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