Indonesian Rupiah remains stagnant today, (Image via Indonesia Expat)

IDR stagnant at Rp15,645/USD

Alfonsus Adi Putra
Market & Investment
Foreign Exchange & Interest Rate
Apr 15, 2020
2450
On Wednesday’s foreign exchange (forex) spot market opening, Indonesian Rupiah (IDR) is seen at Rp15,645 against the U.S Dollar (USD). The rate remains stagnant since Tuesday’s closing rate.

Today, the majority of currencies of Asia – ASEAN nations strengthened against the USD. S. Korean Won (KRW) strengthened by 0.32 percent, the Japanese Yen (JPY) by 0.17 percent, Malaysian Ringgit (MYR) by 0.15 percent, Thai Baht (THB) by 0.04 percent, Philippines Peso (PHP) by 0.04 percent, and Singaporean Dollar (SGD) by 0.01 percent.

Only the Hong Kong Dollar (HKD) weakened by 0.01 percent against the USD.

On the other side of the world, the majority of currencies of the developed countries weakened instead. The Australian Dollar (AUD) weakened by 0.26 percent, the Canadian Dollar (CAD) by 0.17 percent, Great Britain Pound sterling (GBP) by 0.05 percent, and Swiss Franc (CHF) by 0.01 percent.

Only the Russian Ruble (RUB) and the European Union Euro (EUR) strengthened by 0.07 percent and 0.04 percent respectively against the USD.

Indonesian forex experts stated that the movement of IDR will be affected by the loosing of lockdown policy from some countries such as the United States (U.S), European Union (EU), and China. The sentiment reflects that the economic activity may come back to normal after the novel coronavirus disease (COVID-19) pandemic outbreak.

The other sentiment came from the International Monetary Fund (IMF), projecting that the economic growth of countries affected by COVID-19 will be negative.

Hence these push-and-pull sentiments caused IDR to move around Rp15,600 – Rp15,750/USD today.

Source: https://bit.ly/3a6bCK1

Market , Investment , Finance , Economy , Forex , ASEAN , Indonesia , IDR , USD