Jakarta - The rupiah exchange rate against the US dollar on Monday (16/8) may be corrected. Negative financial market sentiment towards risky assets this morning with the weakening of regional stock indices may pressure the local currency.

"With this sentiment, the rupiah may also weaken today," said money market observer Ariston Tjendra in Jakarta.

He explained that rising market concerns about the rate of increase in the world's new COVID-19 cases due to the delta variant might be one of the reasons for the risk-shifting sentiment.

On the other hand, the declining number of COVID-19 cases and the loosening of community activities in Indonesia will help curb the weakening of the rupiah exchange rate and may turn stronger.

Meanwhile, the rupiah exchange rate may move lower to 14,400 per US dollar level, with the potential for strengthening in the range of 14,360 per US dollar.