Rupiah Opened Weakened, Translucent Rp. 14,912 Per US Dollar

JAKARTA, KOMPAS.com – Rupiah exchange rate Against the US dollar, which was traded on the spot market this morning, it opened slightly lower on Friday (11/9/2020).

Launch Bloomberg, at 09.14 WIB, the rupiah was opened lower at the level of Rp. 14,912 per US dollar.

Rupiah weakens 58 points or 0.39 percent compared to the previous close of IDR 14,854 per US dollar.

Also read: JCI and Rupiah Closed Down

Analyst and Research Head of Monex Investindo Ariston Tjendra said that the rupiah depreciation was due to the market response to the strict implementation of the PSBB plan on Monday next week.

“The rupiah may still be under pressure today because of the Jakarta PSBB issue which has the potential to slow down economic growth nationally,” Ariston told Kompas.com.

In addition, Ariston said negative sentiment that overshadowed the movement of risky assets with the fall of Wall Street yesterday also had the potential to put pressure on the rupiah.

Wall Street trading yesterday showed the decline in US technology benchmark Nasdaq to close to 2 percent. The decline in the Nasdaq of course also dragged the Dow Jones and S&P 500 to a negative closing yesterday.

Also read: JCI Drops by 4.8 Percent in Session I, Rupiah Also Weakens

On the other hand, the feud between the US and China added to today’s negative market sentiment. The heating up of relations between the two largest economies has put additional pressure on the movement of the rupiah.

Ariston projects that today’s rupiah will move in the range of Rp. 14,750 per US dollar to Rp. 14,950 per US dollar.

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