JAKARTA - The rupiah exchange rate on the spot market was closed lower in trading this weekend. On Friday, July 10, the rupiah closed down 0.28 percent or 40 points to a level of Rp14,435 per US dollar.
Head of Research at Monex Investindo Futures, Ariston Tjendra, said the weakening of the rupiah was due to market concerns about an increase in the spread of COVID-19.
"In addition, the 10-year tenor US government bond yield continued its decline to the level of 0.586 percent (this morning it was at 0.615 percent), which means that market concerns are still high so that the market shifts some of its assets to safe US dollar assets," said Ariston. to VOI.
This afternoon, the majority of currencies in the Asia Pacific region moved lower against the US dollar, led by the South Korean won which weakened 0.73 percent.
Followed by the Indian rupee, which weakened 0.30 percent. The Taiwan dollar and the Chinese yuan weakened 0.27 percent and 0.19 percent, respectively.
The Thai baht and the Philippine peso both fell 0.14 percent. The Malaysian ringgit was also seen weakening 0.10 percent.
The Singapore dollar was recorded to have weakened 0.05 percent.
Meanwhile, the only currency that strengthened against the US dollar, was the Japanese yen which appreciated 0.36 percent.
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