The Rupiah Dragged Down 25 Points To Rp14,245 Per US Dollar

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market closed lower on Monday, June 29 trading. The rupiah closed down 0.18 percent or 25 points to the level of Rp14,245 per US dollar.

Previously, Monex Investindo Futures Research Head Ariston Tjendra had predicted that the rupiah would weaken today. Market concern about the spread of the COVID-19 virus outbreak which continues to increase and causes a second wave, has given negative sentiment to risk assets including the rupiah.

According to Ariston, there were indications of increasing demand for US dollar assets as safe assets with a decrease in the yield on the 10-year US bond which is now at 0.635 percent.

This afternoon, the rupiah became the only currency that weakened against the US dollar. The South Korean won still leads the region's currency appreciation after gaining 0.16 percent.

Just below the won was the Philippine peso, which strengthened 0.13 percent. Furthermore, there was the Malaysian ringgit and the Taiwan dollar which both appreciated 0.11 percent.

Next the Thai baht rose 0.09 percent and the Indian rupee, which rose 0.07 percent. Then there is the Singapore dollar which is also up 0.07 percent and the Japanese yen which is seen up by 0.03 percent.

Meanwhile, the Chinese yuan still edged up 0.003 percent and the Hong Kong dollar was steady at the same level as last weekend.