Monday, 30 Mar 2020

Within 4 days, From IDR 11,000 the Value of US Dollars to Rupiah Rose to IDR 15,000


IllustrationIllustration - The exchange rate of the United States dollar (US) against the rupiah finally broke to the level of Rp 15,000. This is the first time the US dollar has touched this level this year.

Pressure from the widespread of the coronavirus epidemic both on a global and domestic scale also contributed to the weakening of the rupiah.

On Monday morning (16 March 2020), Uncle Sam's exchange rate was at Rp. 14,740. That number has gained 165 points or 1.1%. As of 09.10 am, the US dollar was observed to move at the level of Rp. 14,710-14,740.

Then in the afternoon, Uncle Sam's exchange rate reached IDR 14,900. The US dollar has strengthened by 320 points or 2.19%.

Read more: Indef Dradjad Wibowo: If It's Going to Save the Economy, Lockdown is the Best Way

Until 17:00 WIB, the US dollar was recorded moving at the level of IDR 14,710-15,049. The strengthening of the US dollar has been observed to be quite significant since the beginning of March 2020 or since the first time, Indonesia announced its first positive patient infected with the coronavirus (COVID-19).

In addition to the downward sentiment in world oil prices, the rapid increase in coronavirus patients in Indonesia has also influenced the movement of the rupiah to date.

For information, the last time the US dollar broke through the level of IDR 15,000 occurred in mid-October 2019. Since then, the US dollar has moved at a level of IDR  13,500, but currently at the level of IDR  15,000.

The Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan raised his voice about the exchange rate of the United States dollar (US) against the rupiah strengthened to IDR 15,049. He considered, this pressure did occur, but not only in Indonesia.



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