The Trade Balance Surplus Failed to Lift Rupiah from IDR 14,804 per US Dollar

Jakarta, Armfalcon.com —

Rupiah exchange rate perched at IDR 14,804 per US dollar on Monday (155/5) afternoon. Garuda’s currency weakened 54 points or 0.37 percent from the previous trade.

Meanwhile, Bank Indonesia’s (BI) reference rate, the Jakarta Interbank Spot Dollar Rate (Jisdor) places the rupiah at IDR 14,812 per US dollar.

Currencies in the Asian region vary. The Japanese yen weakened 0.30 percent, the Thai baht strengthened 0.80 percent, the Philippine peso weakened 0.51 percent, the South Korean won weakened 0.18 percent and the Chinese yuan strengthened 0.11 percent.

The Singapore dollar strengthened 0.08 percent and the Hong Kong dollar strengthened 0.03 percent at the close of trading this afternoon.

Meanwhile, the main currencies of compact developed countries are in the green zone. The European euro recorded a gain of 0.25 percent, the British pound strengthened 0.23 percent, and the Swiss franc strengthened 0.07 percent.

Meanwhile, the Australian dollar strengthened 0.59 percent, and the Canadian dollar also strengthened 0.27 percent.

DCFX analyst Lukman Leong said the rupiah weakened due to the performance of Indonesia’s trade balance which was not very encouraging.

“Even though the trade balance returned to a surplus and was higher than forecast, exports and imports fell more than forecast,” Lukman told Armfalcon.com.com.

He added that the rupiah was also pressured by the strengthening of the US dollar.

[Gambas:Video CNN]

(ldy/agt)