According to an analyst, Riset Monex Investindo Futures' head of research, Ariston, investors, and traders remain concerned over the spread of the virus despite the market witnessing a decline in the selling of high-risk assets.
"The number of people confirmed to have tested positive to the coronavirus infection appears to have increased, and it contributes to the weakening of Indonesia's rupiah," Ariston explained.
He further projected the rupiah to move within the range of Rp13,830 to Rp13,920 against the dollar. In the meantime, Bank Indonesia's mid-rate on Tuesday showed the rupiah had dropped Rp13,893 against the dollar, while the day before, it was recorded at Rp13,863 against the greenback.
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