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Dragged by the flood, IDR weakened to Rp13,892/USD. Don't worry, the weakening is temporary. (Image via Market Bisnis)
IDR swept away by the flood to Rp13,892/USD
On Thursday’s foreign exchange (forex) spot market opening, the Indonesian Rupiah (IDR) is seen at Rp13,892 against the U.S Dollar (USD). The rate weakened by 0.19 percent compared to Tuesday’s closing rate at Rp13,866/USD. For the day, IDR is moving around Rp13.850 - Rp13.960/USD.Today, the majority of currencies in Asia – ASEAN regions weakened against the USD. The Japanese Yen (JPY) weakened by 0.06 percent, the Hong Kong Dollar (HKD) by 0.03 percent, Singaporean Dollar (SGD) by 0.04 percent, and both S. Korean Won (KRW) and Malaysian Ringgit (MYR) weakened slightly by 0.01 percent against the USD.
Only Thai Baht (THB) strengthened against the USD by 0.16 percent. Meanwhile, Turkish Lira (TRY) and the Philippines Peso (PHP) remain stagnant against the USD.
On the other hand, the majority of currencies in the developed country regions strengthened against the USD. Great Britain Pound sterling (GBP) strengthened by 0.03 percent, the Canadian Dollar (CAD) by 0.08 percent, and European Union Euro (EUR) by 0.03 percent against the USD.
Unfortunately, only the Australian Dollar (AUD) weakened by 0.02 percent against the USD.
Indonesian forex experts predicted that the weakening of IDR would be temporary after the joyful trade negotiation between the U.S and China. The “Phase One” agreement between the two countries had reached the determination of the signing date on 15 January. The date was revealed by the President of the U.S, Donald Trump, on New Year’s Eve.
Source: https://bit.ly/37wXJDL
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