Rupiah Seen to Depreciate Amid Surge in Covid-19 Cases


The rupiah exchange rate on Tuesday (22/6) is expected to weaken against the US dollar, although market sentiment towards risk appears to be improving.

"The implementation of more stringent Community Activity Restrictions (PPKM) has begun and new cases of COVID-19 which are still on an upward trend in Indonesia have triggered the weakening of the rupiah today," said Money Market Observer Ariston Tjendra in Jakarta.

According to Ariston, this condition will hamper domestic economic recovery.

"Potential for weakening to the range of 14,480 per US dollar with potential support at 14,400 per US dollar," he said.


Penulis : Widya