Jakarta - The tapering sentiment coupled with rising energy prices and the increasing global COVID-19 cases slowing global economic growth is still depressing the rupiah exchange rate against the US dollar.

"Today, the rupiah exchange rate may move lower to the range of 14,330-14,350 per US dollar, while the support level is in the range of 14290-14350 per US dollar," said money market observer Ariston Tjendra in Jakarta, Monday (4/10).

According to Ariston, market players are still wary of the US Federal Reserve's tapering policy in November or December.

Some of these are most likely the start of monetary tightening policy, and analysts estimate that at the end of mid-2022, the next interest rate hike will most likely be followed, which means it could be sooner than previously estimated.

On the other hand, rising energy prices have suppressed China's manufacturing growth in recent months and also idled the economies of sever