Rupiah Report Card Monday Afternoon: Closed Most Weakening In Asia Pacific

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market was closed lower on Monday, July 20 trading. The rupiah closed down 0.56 percent or 82 points at Rp14,785 per US dollar.

Previously, Head of Research at Monex Investindo Futures, Ariston Tjendra, said the market was still shaded by concerns about the increase in the spread 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.

Meanwhile, the 10-year tenor US government bond yields have moved down around 2.07 percent to 0.622 percent, indicating that demand for safe US dollar assets has increased.

According to him, this sentiment has pushed the exchange rate of emerging markets against the US dollar today.

This afternoon until 15.00 WIB, the rupiah was still the currency with the deepest weakness in the Asia Pacific region. In fact, the majority of currency movements in the region are in the positive zone.

The South Korean won became the currency with the largest strengthening in the region after gaining 0.15 percent against the US dollar. Then, the Philippine peso rose 0.13 percent and the Indian rupee increased 0.12 percent.

Furthermore, there is the Malaysian ringgit which has increased by 0.05 percent. Followed by the Chinese yuan and the Taiwan dollar which both appreciated 0.03 percent. The Hong Kong dollar is still seen slightly strengthening 0.008 percent.

Meanwhile, the Thai baht was still under 0.45 percent and the Japanese yen was down 0.15 percent. Meanwhile, the Singapore dollar was also in the negative zone after dropping 0.01 percent.