Coronavirus outbreak drives depreciation of rupiah

Coronavirus outbreak drives depreciation of rupiah

Photo File: A foreign tourist exchanges bills at a money changer in Jakarta, Friday (February 2, 2020). ANTARA FOTO/Dhemas Reviyanto/hp/gtm

Jakarta (ANTARA) - Indonesia's rupiah opened lower by 10 points, or 0.07 percent, to Rp13,684 against the US dollar on Thursday morning amid the market's concerns over the Coronavirus outbreak.

Ariston Tjendra, head of research of Monex Investindo Futures, stated in Jakarta that tensions over the outbreak had eased, as fewer people got infected in the past days.

"Some high-risk assets have strengthened this morning, and it may push the rupiah to rebound today," Tjendra pointed out.

He further projected the rupiah to hover in the range of Rp13,640 to Rp13,700 against the dollar.

In the meantime, according to Bank Indonesia's exchange rate, the rupiah plunged Rp13,679 against the dollar this morning, while the day before, it was recorded at Rp13,659. Related news: Rupiah appreciates on falling US bond yields

Related news: Rupiah weakens despite improving current account deficit