Rupiah remains in correction mode on Tuesday morning

Rupiah remains in correction mode on Tuesday morning

(Illustration) - An officer counts US dollars at a money changer in Jakarta (ANTARA /Sigid Kurniawan/Su)

Jakarta (ANTARA) - The rupiah experienced another correction in the Jakarta interbank spot market on Tuesday morning.

The Indonesian currency weakened 35 points, or 0.25 percent, to Rp14,285 per US dollar as compared to Rp14,250 per US dollar earlier.

Bank Mandiri market analyst Rully Arya Wisnbroto has forecast the movement of the rupiah on Tuesday to continue to be influenced by the same sentiment as the day before.

"The sentiment is still the same. (The market) still lacks positive sentiment, while the demand for foreign currencies is still high," he pointed out.

On the external side, trade war tensions re-escalated after the retaliation between the United States and China in implementing their foreign trade policies.

He has forecast the rupiah to hover in the range of Rp14,220 to Rp14,275 per US dollar on Tuesday.

According to the Bank Indonesia mid-rate on Tuesday, the rupiah weakened to Rp14,283 per US dollar as compared to Rp14,220 per US dollar earlier. Related news: Yuan's weakening to not affect Indonesia's export performance: BI

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