JAKARTA - The rupiah exchange rate on the spot market was closed lower at the weekend trading. On Friday, June 26, the rupiah closed down 0.32 percent or 45 points to Rp14,220 per US dollar.
Head of Research at Monex Investindo Futures, Ariston Tjendra, said that apparently market concerns over the increase in the spread of the COVID-19 virus prompted market players to seek US dollars as a safe asset.
"The 10-year US bond yield fell today to around 0.67 percent or down 2.6 percent, which indicates that demand for US bonds is increasing," Ariston told VOI.
This afternoon, currencies in Asia were mixed with a tendency to strengthen. Apart from the rupiah, the Malaysian ringgit and Thai baht are under pressure. Where the Malaysian ringgit fell 0.22 percent and the Thai baht slightly weakened 0.05 percent against the US dollar.
Meanwhile the South Korean won remains the highest-strengthening currency in Asia today after gaining 0.33 percent. Just below the won was the Japanese yen, which was up 0.20 percent.
Then there was the Philippine peso which lifted 0.16 percent and the Indian rupee, which flew 0.10 percent. Next, the Singapore dollar edged up 0.01 percent.
The same thing happened to the Hong Kong dollar, which seemed to be moving stable with a tendency to strengthen by Rp. 0.004 percent.
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