Rupiah Down to 14,459/US$ as WHO Declares Coronavirus a Pandemic
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12 March 2020 11:23 WIB
TEMPO.CO, Jakarta - The rupiah interbank exchange rate in Jakarta fell hard after the World Health Organization declared the new coronavirus outbreak a global pandemic. This morning at 10:07 Jakarta time, the rupiah fell 0.59 percent to Rp14,459 per US dollar.
Monex Investindo Futures chief researcher Ariston Tjendra said that risky assets—including the rupiah, will remain under pressure for the rest of today's trade, March 12.
"A wave of negative sentiments hits the market again after the WHO changed the global status from epidemic to pandemic," he said.
The WHO also declared Italy and Iran are at the frontline of the Covid-19 disease now. "But I guarantee you that other countries will be in that situation soon," WHO's emergencies chief Dr Mike Ryan said.
The virus, named SARS-Cov-2, that caused the Covid-19 disease first originated in China in December last year. It has since spread to 114 nations, putting a halt to people's lives as manufacturing, aviation, education, as well as other sectors are suspended from operating normally.
To date, the new type of the coronavirus had infected over 118,000 people worldwide, killing more than 4,200. The numbers are expected to rise.
Back to the currency market, Ariston predicted the rupiah to be corrected for the rest of the day; moving between Rp14,370 and Rp14,500 per US dollar. Meanwhile, Bank Indonesia's middle rate placed the rupiah at a corrected level of Rp14,490 per dollar, down from yesterday's close of Rp14,323.
ANTARA
