Rupiah tanks over new surge in COVID-19 cases

24-Jul-2021 Intellasia | AntaraNews | 5:02 AM Print This Post

The rupiah’s exchange rate to the US dollar traded at the Jakarta interbank market on Friday morning weakened following a rebound in new COVID-19 cases in Indonesia.

At 10:04 local time, the rupiah opened 13 points lower, or 0.09 percent, to reach Rp14,496 per US dollar as compared to Rp14,483 per US dollar at the previous trade closure.

“The US dollar fell slightly at the start of the Friday session (July 23), weakened by the poor economic report on Thursday night, thereby dampening the market players’ expectations on the US central bank’s monetary stimulus tapering in the near future,” the Monex Investindo Futures research team wrote here on Friday.

The number of US unemployment claims climbed again to 419,000 on a weekly basis, over the consensus of 350,000 claims.

The unemployment claim data, recorded higher than the previous projection, fueled concerns over the biggest world economic recovery from the pandemic, it highlighted.

Nationally, the number of new COVID-19 cases soared again, with additional 49,509 new COVID-19 cases as of Thursday (July 22), thereby totalling 3.03 million of the confirmed COVID-19 positive cases.

The death toll due to COVID-19 continued to increase, with 1,449 cases as of Thursday (July 22), adding to 79,032 of the total cases.

On the other hand, 2.39 million people recovered, so the total of active cases reached 561,384.

On Thursday (July 22), the rupiah closed 60 points higher, or 0.41 percent, to Rp14,483 per US dollar as compared to Rp14,543 per US dollar at the closing of previous trade.


Category: Indonesia

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