Tuesday, 29 September 2020 | 20:40 WIB

Rupiah Weakens 32 Points on Monday as Asian Markets Decline

Rupiah Weakens 32 Points on Monday as Asian Markets Decline (klikbabel)

JAKARTA, NETRALNEWS.COM - Rupiah exchange rate at the interbank level in Jakarta is closed on the decline on Monday (01/27/2020), in line with the weakening of the majority of Asian regional currencies.

The rupiah was closed 32 points or 0.24 percent lower at the level of IDR13,615 per US dollar, compared to the previous day's position of IDR13,583 per US dollar.

"There is concern that tourism and consumer spending could be hit if the corona virus spreads further, which will prevent investors from taking excessive risks," said PT TRFX Garuda Berjangka Director Ibrahim Assuaibi in Jakarta on Monday (1/27/2020).

Health authorities around the world are currently in the race to prevent the Corona Virus outbreak, which has killed 76 and infected more than 2,000 people in China.

With global conditions reheating due to the Corona Virus, Ibrahim continued, the government continues to carry out a mix strategy to calm market conditions and ensure that the domestic economy is quite stable

Another sentiment is attributed to the international credit rating agency Fitch Rating that kept Indonesia's debt rating at the "BBB" level with a stable outlook last week.

Supporting factors include a good outlook for medium-term economic growth and a relatively low government debt burden.

In the morning, the rupiah opened unchanged at the level of IDR13,583 per US dollar. Throughout the day, the rupiah moved in the range of IDR13,583 per US dollar to IDR13,621 per US dollar.

Meanwhile, Bank Indonesia's middle rate on Monday showed that the rupiah strengthened to IDR13,612 per US dollar compared to the previous day at IDR13,632 per US dollar.