Monday Morning Rupiah Slipped 102 Points To A Level Of Rp14,804 Per US Dollar

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market was opened stronger on Monday, July 20 trading. The rupiah opened up 0.04 percent or 6 points to a level of Rp14,697 per US dollar.

Although opened higher, based on VOI's monitoring at 09.29 WIB, the rupiah slipped and weakened 0.69 percent to a level of Rp14,804 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that this morning the market was still filled with fears of an increase in the transmission of the COVID-19 virus in the world, which again broke the record for the highest transmission in one day, as reported by WHO at the weekend.

"The 10-year tenor US government bond yield has moved down around 2.07 percent this morning to around 0.622 percent, indicating that demand for safe US dollar assets is increasing," Ariston told VOI.

According to him, this sentiment might encourage the weakening of the exchange rate of emerging markets against the US dollar today, including today's rupiah to the range of Rp14,800 with potential support in the range of Rp14,600 per US dollar.

Moves Varies

This morning at 9:30 am, currencies in the Asia Pacific region were mixed in front of the US dollar. The gains were led by the Indian rupee which has appreciated 0.22 percent.

Followed by the Taiwan dollar and South Korean won, which each strengthened 0.09 percent and 0.06 percent.

Meanwhile, the weakening currency was led by the rupiah which depreciated 0.69 percent. Followed by the Japanese yen and Thai baht, which respectively weakened 0.34 percent and 0.27 percent.

Followed by the Chinese yuan which weakened 0.10 percent. Then the Malaysian ringgit and Singapore dollar both fell 0.04 percent.