Rupiah Sluggish to IDR 14,915 per Dollar Impacted by Improved US Economic Data

Jakarta, Armfalcon.com —

Exchange rate rupiah is at the level of IDR 14,915 per US dollar on Friday (19/5) morning. Garuda’s currency weakened 46 points or 0.31 percent from the previous trade.

Currencies in the compact Asian region are in the red zone. The Japanese yen weakened 0.13 percent, the Thai baht weakened 0.15 percent, the Philippine peso weakened 0.16 percent, the South Korean won weakened 0.11 percent and the Chinese yuan weakened 0.10 percent.

The Singapore dollar also weakened 0.03 percent and the Hong Kong dollar weakened 0.01 percent in opening trade this morning.

Meanwhile, the main currencies of developed countries varied. The European euro recorded 0.15 percent gain, the British pound weakened 0.05 percent, and the Swiss franc strengthened 0.13 percent.

Then, the Australian dollar weakened 0.05 percent, and the Canadian dollar strengthened 0.02 percent.

DCFX analyst Lukman Leong estimates that the rupiah will continue to weaken due to improvement in a number of US economic data and statements by several The Fed officials regarding future interest rate policy.

“The rupiah is expected to weaken due to the strengthening of the US dollar following recent hawkish statements from several Fed officials,” Lukman told Armfalcon.com.com

Today, Lukman estimates that the rupiah will move in the range of Rp. 14,800 per US dollar – Rp. 14,950 per US dollar.

[Gambas:Video CNN]

(ldy/dnz)