COVID-19 caused IDR to weaken. (Image via Market Bisnis)

IDR goes down to Rp14,112/USD still infected by COVID-19

Alfonsus Adi Putra
Market & Investment
Foreign Exchange & Interest Rate
Mar 06, 2020
1877
On Friday’s foreign exchange (forex) spot market opening, Indonesian Rupiah (IDR) is seen at Rp14,212 against the U.S Dollar (USD). The rate weakened by 0.26 percent compared to Thursday’s closing rate at Rp14,175/USD. For today, IDR is moving around Rp14,115 - Rp14,285/USD.

IDR is not alone. Today, the majority of currencies in Asia – ASEAN regions weakened against the USD. Reportedly, S. Korean Won (KRW) weakened by 0.75 percent, Malaysian Ringgit (MYR) by 0.30 percent, the Japanese Yen (JPY) by 0.04 percent, Singaporean Dollar (SGD) by 0.04 percent, and Turkish Lira (TRY) weakened slightly by 0.01 percent.

On the other hand, Thai Baht (THB) strengthened by 0.08 percent and the Hong Kong Dollar (HKD) slightly by 0.01 percent against the USD.

On the other side of the world, the majority of currencies in the developed countries region strengthened against the USD. Both the Canadian Dollar (CAD) and Australian Dollar (AUD) strengthened by 0.14 percent and 0.01 percent respectively, and Great Britain Pound sterling (GBP) by 0.03 percent.

Only the European Union Euro (EUR) weakened by 0.10 percent against the USD.

Indonesian forex experts explained that the weakening of IDR is caused by market pessimism over U.S non-farm payroll data amid the novel coronavirus (COVID-19) outbreak. Moreover, domestic macroeconomics data did not yield any positive high market impact for IDR.

Source: https://bit.ly/2VNJ4Bn

Market , Economy , Investment , Finance , ASEAN , Indonesia , IDR , USD , Medical , Health , Disease , Pulmonary , Pneumonia , Coronavirus , COVID-19