The strengthening of the US Dollar overturned the Rupiah to a level of IDR 14,932

Jakarta, Armfalcon.com —

Rupiah exchange rate closed at the level of IDR 14,932 per US dollar on Wednesday (5/4). Garuda’s currency weakened 34 points or minus 0.22 percent from the previous trade.

Meanwhile, Bank Indonesia’s (BI) Jakarta Interbank Spot Dollar Rate (Jisdor) reference rate put the rupiah at IDR 14,933 per US dollar in trading this afternoon.

However, the majority of currencies in the Asian region closed in the green zone. The Philippine peso rose 0.15 percent, the Malaysian ringgit grew 0.17 percent, the Indian rupee strengthened 0.24 percent, the Japanese yen rose 0.24 percent, the South Korean won soared 0.40 percent and the Thai baht strengthened 0.49 percent.

The only weakening experienced was the Singapore dollar which fell 0.01 percent, the Hong Kong dollar fell 0.01 percent, and the Chinese yuan minus 0.02 percent.

Meanwhile, the dominant developed countries’ currencies weakened. The British pound fell 0.20 percent, the European euro minus 0.05 percent, the Swiss franc rose 0.11 percent, the Canadian dollar weakened 0.16 percent and the Australian dollar fell 0.66 percent.

DCFX Senior Analyst Lukman Leong said the rupiah weakened amid mixed market sentiment. However, in general the rupiah weakened due to profit taking.

“The rupiah was pressured by the rebound on the US dollar. However, yields on Indonesia’s 10-year bonds have fallen again indicating strong demand from investors,” he told Armfalcon.com.com.

(skt/aug)