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Sunday, 17 Nov 2019

A Result of the US-China Trade War, Rupiah Continues to Decline

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News24xx.com - Rupiah exchange rate was recorded at Rp14,180 per US dollar (US) in the spot market trading on Thursday morning on 10 October 2019. This position weakened 0.05 percent compared to the exchange rate on Wednesday afternoon, 9 October 2019, which was valued at IDR14,172 per US dollar.

This morning, most major Asian currencies weakened against the US dollar. Korean won weakened 0.15 percent, Malaysian ringgit weakened 0.02 percent, Indian rupee weakened 0.07 percent, Singapore dollar weakened 0.05 percent, and Philippine peso weakened 0.03 percent against the US dollar.

In Asia, the Japanese yen strengthened 0.15 percent, the Hong Kong dollar gained 0.01 percent, the Thai baht gained 0.08 percent, and the Chinese yuan gained 0.16 percent against the US dollar.

In addition, the currencies of developed countries were monitored to vary, such as the British pound strengthened 0.04 percent against the US dollar, while the euro strengthened 0.08 percent, but the Australian dollar weakened 0.12 percent against the US dollar this morning.

PT Monex Investindo Futures Head of Research Ariston Tjendra said market concerns regarding trade negotiations between the US and China were still high.

Ariston said the weakening of the rupiah today was due to uncertain market movements because market participants continued to follow the development of the issue.

According to Ariston, the rupiah will potentially move in the range of IDR14,100 to IDR14,200 today.

 

 

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