Rupiah Potentially Strengthens following Improving COVID-19 Trends

TEMPO.CO, Jakarta - The interbank rate for the rupiah in Jakarta potentially strengthens as the COVID-19 pandemic in the country is getting under control. Today morning, September 21, the rupiah weakened by 10 points or 0.07 percent to Rp14,253 per US dollar from the previous closing of trading at Rp14,243 per US dollar.

“The rupiah exchange rate has the possibility to strengthen today against the US dollar following the strengthening of regional exchange rates this morning and assisted by positive domestic sentiment since the PPKM level in Java and Bali is lowered and no region is at level 4,” said foreign exchange market observer Ariston Tjendra on Tuesday.

Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan announced on Monday night, September 20, that no region in Java and Bali was under the strictest level of public mobility restrictions or PPKM Level 4.

The epidemiologist team from the University of Indonesia’s School of Public Health (FKM UI) said Indonesia’s COVID-19 effective reproduction number was below 1, or 0.98, the first time during the pandemic.

The COVID-19 daily case numbers also showed an improving trend. Last week, the country recorded less than 2,000 new cases and the active case number was below 60,000. In Java and Bali, the number of daily cases plummeted by 98 percent from its peak on July 15, 2021.

Read: Rupiah Expected to Gain over Indonesia's Improving Covid Situations

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