The rupiah exchange rate was at Rp13,660 per US dollar in the spot market trading Monday (2/17) afternoon. Garuda's currency strengthened 0.24 percent compared to the value at the close of trading on Friday (2/14).

Meanwhile, the Bank Indonesia (BI) Jakarta Interbank Spot Dollar Rate (JISDOR) reference rate places the rupiah at Rp13,693 per US dollar or weaker compared to Friday (14/2), which is Rp13,707 per US dollar.

Today afternoon, the majority of currencies in the Asian region are seen weakening against the US dollar. Noted, the Philippine peso weakened 0.21 percent, the Malaysian ringgit 0.14 percent, and the Korean won by 0.06 percent. Furthermore, the Japanese yen also weakened by 0.05 percent, and the Thai baht and the Taiwan dollar which both fell 0.03 percent against the US dollar.

On the other hand, the strengthening occurred in the Turkish lira by 0.27 percent, the Singapore dollar 0.18, the Chinese yuan 0.09, followed by the Hong Kong dollar which weakened 0.03 percent against the US dollar.

Then in developed countries, the majority of exchange rates move stronger against the US dollar. Observed, the Australian dollar and Canadian dollar rose with the value of respectively 0.17 percent and 0.09 percent, and the euro gained 0.14 percent.

Stimulus in Developed Countries, Cause Rupiah to Strengthen

Meanwhile, only the British pound was observed to weaken 0.04 percent against the US dollar. Binaartha Sekuritas analyst Muhammad Nafan Aji Gusta Utama said the strengthening of the rupiah was caused by the stimulus policies of developed countries over the Corona virus outbreak.

Earlier, Nafan said market participants regretted the spread of COVID-19 aggressively and the swelling of the trade balance deficit. Theoretically, sentiment should have weakened the rupiah.

"Nevertheless, the stimulus policies carried out by developed economies are still positively responded by market participants," Nafan said when contacted by CNNIndonesia.com, Monday (17/2). On the other hand, Nafan said the performance of the US dollar being limited today was also a result of the President's Day warning in the US, causing the US market to be rather quiet.

Meanwhile, the Bank Indonesia (BI) Jakarta Interbank Spot Dollar Rate (JISDOR) reference rate places the rupiah at Rp 13,647 per US dollar or weaker compared to Monday (1/27), which is Rp 13,612 per US dollar.

Not only the rupiah, this afternoon the majority of currencies in Asia were observed to weaken against the US dollar. Noted, the Malaysian ringgit weakened 0.62 percent, the Thai baht 0.49 percent and the Singapore dollar by 0.09 percent.

Exchange Rates Weakened from Several Countries Against US Dollars

Furthermore, the Japanese yen also weakened 0.03 percent, followed by the Hong Kong dollar, which edged down 0.01 percent against the US dollar. Meanwhile, the strengthening occurred in Indian rupees by 0.15 percent, the Philippine peso 0.06 percent, and the Korean won which gained 0.02 percent against the US dollar.

Then in developed countries, the majority of the exchange rate moves to weaken against the US dollar. The British pound and the euro weakened by 0.39 percent and 0.04 percent respectively, accompanied by the Canadian dollar which weakened 0.05 percent, and also the Australian dollar by 0.27 percent against the US dollar.

Director of PT Garuda Indonesia Futures TRFX Ibrahim Assuaibi assessed the weakening of the rupiah today is still caused by negative sentiment from the Corona Virus outbreak which has not been resolved. It is known, the virus originating from the city of Wuhan, China has killed more than 100 people.

Increased efforts to curb the spread of the virus have been carried out by Chinese authorities, namely by means of severe restrictions on the movement and travel of people. "Late last year many Chinese cities in central Hubei Province had spread the flu-like virus that has now been locked out," he explained.