The coronavirus made IDR sneeze. (Image via Market Bisnis)

Coronavirus infects IDR to Rp13,690/USD

Alfonsus Adi Putra
Market & Investment
Foreign Exchange & Interest Rate
Feb 03, 2020
3965
On Monday’s foreign exchange (forex) spot market opening, IDR is seen at Rp13,690 against the U.S Dollar (USD). The rate weakened by 0.30 percent compared to Friday’s closing rate at Rp13,655/USD. For today, IDR is moving around Rp13,630 - Rp13,680/USD.

Not only IDR, but the majority of currencies in Asian – ASEAN regions also weakened against the USD. Reportedly, S. Korean Won (KRW) weakened by 0.32 percent, Malaysian Ringgit (MYR) by 0.13 percent, and Japanese Yen (JPY) by 0.07 percent. Meanwhile, Singaporean Dollar (SGD) and the Hong Kong Dollar (HKD) weakened by 0.02 and 0.03 percent.

On the other hand, strengthening also happened to Turkish Lira (TRY) by 0.06 percent, followed by Thai Baht (THB) by 0.07 percent against the USD.

In the developed countries region, the majority of currencies also weakened to the USD. Both the Great Britain Pound sterling (GBP) and the Canadian Dollar (CAD) weakened by 0.21 and 0.05 percent respectively, and the European Union Euro (EUR) by 0.08 percent.

Only the Australian Dollar (AUD) strengthened by 0.11 percent against the USD.

Indonesian forex experts explained that the weakening of IDR was caused by the negative sentiment that the Wuhan coronavirus had spread further globally. Therefore, it affects the risk assets negatively.

Since coronavirus has caused the Chinese economic growth to slow down, it might also slow the global economic growth. To anticipate it, the Chinese Central Bank had injected a 1.2 trillion RMB fund to the repo market.

Source: https://bit.ly/31hKV2b

Business , Finance , Trade , Economy , Medical , Health , Outbreak , Pneumonia , Disease , Coronavirus , Forex , ASEAN , Indonesia , IDR , USD