Rupiah May Weaken on Concerns Over Global Economic Slowdown


The rupiah exchange rate has the potential to weaken on Monday (17/5), trading following the correction in regional exchange rates against the US dollar.

"Market concerns about rising inflation in the US could encourage the strengthening of the US dollar against other exchange rates," said money market observer Ariston Tjendra in Jakarta.

In addition, lockdowns in several neighboring countries due to the increase in COVID-19 cases also triggered the strengthening of the US dollar.

"Market concerns about the global economic downturn encourage the market to hold the US dollar as a safe asset," he said.

The potential for the weakening of the rupiah today may move to the range of 14,250 per US dollar, with potential support at around 14,180 per US dollar.



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