JAKARTA - The rupiah exchange rate on the spot market at 9:25 a.m. was observed to have weakened 16 points or 0.12 percent to a level of Rp13,685 per US dollar this morning.
At the opening at 08.00, the rupiah had opened up 4 points or 0.03 percent to a level of Rp13,665 per US dollar this morning.
Monex Investindo Futures Head Researcher Ariston Tjendra said the market was wary of the outbreak of the deadly Coronavirus from China which had been brought to the US.
"The outbreak of this virus can disrupt the economy, which pushes the market out of risky assets. This can push the rupiah against the US dollar," Ariston told VOI, Wednesday, January 22.
On the other hand, he continued, the news that the Fed had injected US $ 500 billion into the market via repo to stabilize liquidity could prevent the rupiah from weakening too deeply.
"This Fed injection keeps the US government bond yield at a low check, now around 1.78 percent," said Ariston.
He also estimates that today's rupiah will move in the range of IDR 13,640-13,700 per US dollar.
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