Rupiah inches closer to 15,000 over fears of COVID-19 pandemic

first_imgThe rupiah inched closer to the Rp 15,000 psychological mark against the US dollar on Monday, as fears over the COVID-19 pandemic prompted investors to dump risky assets amid a global market rout.The rupiah depreciated 1.05 percent to 14,932 against the greenback as of 3:59 p.m. Jakarta time, Bloomberg data shows.According to Bank Indonesia (BI), the local currency weakened 0.02 percent to 14,818 against the dollar on the Jakarta Interbank Spot Dollar Rate (JISDOR). Read also: ‘Triple market intervention’: BI buys bonds, rupiah to prop up prices amid viral routIndonesia has so far announced 117 confirmed COVID-19 cases, with five deaths. Globally, the pneumonia-like illness has infected more than 169,000 people and taken at least 6,500 lives.Last week, BI revealed foreign outflows of around Rp 31.76 trillion in government bonds and Rp 4.87 trillion in Indonesian shares since January, as investors flee to safe-haven assets. The central bank has bought Rp 130 trillion in government debt papers since January, of which around Rp 110 trillion has been spent since COVID-19 spread outside China in late January.“We are committed to remaining in the market to stabilize the rupiah by selling dollars as cash or domestic non-deliverables forward,” BI Governor Perry Warjiyo said recently.Topics : The rupiah has fallen 3.7 percent in the past week, the worst in the region after the Malaysian ringgit, which fell almost 3 percent.The yield on 10-year government bonds grew 7 percentage points on Monday from the previous day’s figure, indicating a drop in price to 97,767. Meanwhile, the Jakarta Composite Index (JCI) slumped 4.42 percent on Monday’s closing despite foreign investors buying a net Rp 238.11 billion (US$15.83 million).The drop in Indonesian equities follows the continued rout on Asian markets during Monday trading, with Tokyo dropping 2.46 percent, Hong Kong 4.03 percent and Singapore 5.25 percent.“The rupiah will be traded lower at around 14,940 to 14,500 per US dollar tomorrow [Tuesday],” said futures firm PT Garuda Berjangka president director Ibrahim.last_img read more

Cricket News Kohli admits selection has been off, tells batsmen to keep it simple

first_imgLondon: India captain Virat Kohli conceded that team combination was “a bit off” in the lost second Test against England and urged his struggling batsmen to ‘’keep it simple” in the head to save the ongoing series.”I think we got the combination a bit off before the game. We have a chance to correct that next game. (At) Two-nil down the only option is to come out positive, make it 2-1 and make it an exciting series from there,” Kohli said after the team lost by an innings and 159 runs to be 0-2 down in the five-match series.             India could only make 107 and 130 in the second Test and will need to avoid a loss in the third game due to start on August 18 in Nottingham to stay alive.Also Read | I will be fine in five days’ time, says Virat KohliKohli reiterated that his batsmen’s problem is more mental than technical. “I don’t see any technical deficiency. If a batsman is clear in the head and he’s clear about the plans he’s taking, then if the ball does something off the pitch, you’re able to counter it,” said Kohli at the post-match media interaction. “If my head’s clouded then I feel like the ball can do this, or that, or even that. You know there are three-four scenarios that run in your head. It sounds cliche but as the greats have said, keep this game simple, that’s all you have to do. You can’t come here and think the conditions are too difficult because they are really not if you’re prepared to counter them.’’ The weather also did not favour India, who batted in overcast conditions while England scored their runs in bright sunshine on day three.”A lot of people are talking about the conditions, that we batted during a difficult time. On the day that was good, we had to bowl. And again, today was overcast and we had to bat. If we think about these things, we won’t be able to plan for the future.Also Read | England beat India by an innings and 159 runs; lead series 2-0 “There is nothing to be gained from thinking about what has happened and thinking what if. Going ahead in this series, we need to look at the mistakes we’ve made in this game and correct them. A sportsman has no other options,” felt the captain.Bowlers did well in the series opener but were not consistent enough at Lord’s, he said. “You can’t control the toss or the weather. We didn’t play good cricket in this game. We bowled well in the beginning but didn’t hit our areas consistently. We didn’t get enough chances in the field to miss any, but with bat and ball we could have done much better than we did.”During the second innings, Kohli batted at number five as his back problems resurfaced. The star batsman was hopeful that he would be fit in time for the next match.”Back is one thing that can be very tricky when it goes off. It happened during the latter half of the last leg of the South Africa tour when I missed a T20 game because that was very sudden. It happened one day before. The good thing is I have five days before the next Test.Also Read | Andre Russell takes hat-trick, scores fastest ton in CPL “We are confident with rehab and strengthening I should be ready for the next game although not (with) the same intensity in the field. But I should be good enough to hold a position in the field and be 100 per cent with the bat.”Again I will have to look at the running bit of things, which was difficult today. As of now it is sore. I am not hiding that fact, but that is part of the game. I had to do what I could do to go there, bat again and try my best,” said the skipper. There are problems across the board for India, as their openers failed in both Birmingham and Lord’s, while barring Kohli, the middle-order didn’t turn up either. Kohli said that no particular batsman could be blamed for this failure.”Right now, it’s not purely thinking that the openers haven’t fired or the middle order hasn’t done well, because as a batting unit, we haven’t done well in this game as a whole. “It’s very difficult to pinpoint anyone. All we have to do is gear up for the next game, come out positive and not think about that I’ve done well…It’s all about making the team win, and doing anything that we can to make that happen.”Also Read | Scorecard at stumps as brilliant Woakes-Bairstow power England When asked if the Indian batting is too dependent on him, the skipper replied, “We definitely as a team don’t and can’t think from that point of view. No one’s doing anyone a favour by going out there and performing. It’s our job to do that and it’s a duty we’ve been given.”What we did in this game we should definitely be better than that. I’m the first one to come out and accept that because unless you accept your mistake you can’t improve on it. Because this is the first time in the last 5 Tests that we’ve been really outplayed.”This loss allows them an extra day of contemplation, albeit it will be tough to overturn a 2-0 deficit in the series.”We are only thinking about the fact that we do have the bowling attack to pick up 20 wickets and as batsmen we should think of that as an opportunity to score runs, and make the team win games. “What’s been sad is that we haven’t had those two skills coming together. I don’t think it’s unfortunate totally because you can’t rely on fortune and luck in every game that you play,” said Kohli. For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps.last_img read more