Lack of Support, The Value of the Rupiah Weakens to Rp14,515 per US Dollar
Berita Hub. Jakarta, the rupiah exchange rate was in the position of Rp14,515 per US dollar in spot market trading Monday (10/12) this morning. This position weakened 35 points or 0.24 percent from the end of Friday (7/12) which was at Rp14,480 per US dollar.
In the Asian region, the rupiah weakened with several other currencies, such as the South Korean won weakening 0.41 percent, the Philippine peso minus 0.09 percent, the Malaysian ringgit minus 0.06 percent, and the Singapore dollar minus 0.05 percent.
While the Thai baht is stagnant. While the Hong Kong dollar and the Japanese yen lean in the green zone, with gains of 0.01 percent and 0.2 percent respectively.
In contrast, the majority of the major currencies of developed countries actually strengthened from the US dollar. The Swiss franc rose 0.23 percent, European euro 0.15 percent, Canadian dollar 0.08 percent and Australian dollar 0.01 percent.
Only the Russian ruble and the British pound were in the red zone, weakening by 0.03 percent and 0.01 percent respectively. CSA Research Institute analyst Reza Priyambada estimates the rupiah exchange rate will weaken at the beginning of this week by moving in the range of Rp14,527-14,545 per US dollar.
Because the rupiah was lacking in positive sentiment at the beginning of the week. "The rupiah is likely to weaken again because there is no sentiment that supports continued strengthening," he said on Monday (10/12).
Though in fact the sentiment from within the country at the end of last week was quite positive for the rupiah. Starting from a smaller budget deficit, tax revenues will be higher than the target, so that Indonesia's foreign exchange reserves will increase.
However, he saw a new positive sentiment was needed that could support the exchange rate performance this week.
In the Asian region, the rupiah weakened with several other currencies, such as the South Korean won weakening 0.41 percent, the Philippine peso minus 0.09 percent, the Malaysian ringgit minus 0.06 percent, and the Singapore dollar minus 0.05 percent.
While the Thai baht is stagnant. While the Hong Kong dollar and the Japanese yen lean in the green zone, with gains of 0.01 percent and 0.2 percent respectively.
In contrast, the majority of the major currencies of developed countries actually strengthened from the US dollar. The Swiss franc rose 0.23 percent, European euro 0.15 percent, Canadian dollar 0.08 percent and Australian dollar 0.01 percent.
Only the Russian ruble and the British pound were in the red zone, weakening by 0.03 percent and 0.01 percent respectively. CSA Research Institute analyst Reza Priyambada estimates the rupiah exchange rate will weaken at the beginning of this week by moving in the range of Rp14,527-14,545 per US dollar.
Because the rupiah was lacking in positive sentiment at the beginning of the week. "The rupiah is likely to weaken again because there is no sentiment that supports continued strengthening," he said on Monday (10/12).
Though in fact the sentiment from within the country at the end of last week was quite positive for the rupiah. Starting from a smaller budget deficit, tax revenues will be higher than the target, so that Indonesia's foreign exchange reserves will increase.
However, he saw a new positive sentiment was needed that could support the exchange rate performance this week.
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