JAKARTA - The rupiah exchange rate on the spot market opened lower on Monday, June 29 trading. The rupiah opened slightly lower by 0.04 percent or 5 points to the level of Rp14,225 per United States dollar (US).
Monex Investindo Futures Head Researcher Ariston Tjendra said this morning the market's concerns over the spread of the COVID-19 virus outbreak which continued to increase and caused a second wave, gave negative sentiment to risky assets including the rupiah.
"There are indications of increasing demand for US dollar assets as safe assets with the decline in the yield on 10-year US bonds which is now at the level of 0.635 percent," Ariston told VOI.
He predicts that the rupiah has the potential to weaken today in the range of Rp. 14,100-14,300 per US dollar.
This morning, currencies in the Asian region were mixed in front of the US dollar. Rupiah has weakened along with several other currencies.
The downturn was led by the Taiwan dollar which depreciated 0.06 percent, followed by the rupiah. Then the Japanese yen weakened 0.02 percent. Followed by the Chinese yuan and the Malaysian ringgit, both weakened 0.01 percent.
As for the currencies that strengthened against the US dollar, led by the Philippine peso which rose 0.21 percent. Followed by the Thai baht which strengthened 0.10 percent.
Then the South Korean won which strengthened 0.09 percent, the Singapore dollar strengthened 0.06 percent, and the Indian rupee strengthened 0.03 percent.
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