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Corona Case hit 14 Million in the World, Rupiah Approaches IDR 14,700

The rupiah exchange rate was in the position of Rp. 14,695 per US dollar in the spot market trading on Monday (7/20) morning. Indeed, Indonesia's currency has strengthened 7 points or 0.05 percent from Rp14,702 at the end of last week, but actually the trend is weakening.

In Asia, the rupiah strengthened with the Philippine peso 0.02 percent. Meanwhile, the Hong Kong dollar is stagnant and other Asian currencies fell into the red zone.

The Japanese yen weakened 0.32 percent, the Thai baht minus 0.31 percent, the Chinese yuan minus 0.11 percent, the Singapore dollar minus 0.09 percent, the Malaysian ringgit minus 0.07 percent, and the South Korean won minus 0.06 percent.

Analyst and Research Head of Monex Investindo Ariston Tjendra estimates that the rupiah exchange rate will weaken to around Rp14,600 to Rp14,800 per US dollar today. Because the number of cases of corona virus or covid-19 continues to increase from day to day.

The World Health Organization (WHO) notes that the number of corona virus cases has reached 14.04 million people in the world. Meanwhile, the number of deaths has reached 600 thousand people.

Similarly in Indonesia. The number of positive cases of corona virus has reached 84.88 thousand people with the number of deaths reaching 4016 people. The number of corona virus cases in the country even almost overtook China as many as 85.93 thousand people.

Another sentiment is because of the yield on US bonds, the 10-year US Treasury has fallen back to around 0.622 percent. Yields have fallen around 2.07 percent in the past few months.

Source: https://bit.ly/3henRIn