Slow global economy pulls rupiah down

Slow global economy pulls rupiah down

Photo Illustration: The United States dollar bill and rupiah bill. ANTARA FOTO/Puspa Perwitasari/am/gtm

Investors are less enthusiastic to the shifting of the Bank Indonesia's Board of Governors meeting from January 22 to January 23 due to external factors
Jakarta (ANTARA) - Indonesia’s rupiah declined 30 points or 0.22 percent to Rp13,669 against the US dollar in the Jakarta interbank market Tuesday evening following an International Monetary Fund prediction on slow global economic growth in 2020. "Investors are less enthusiastic to the shifting of the Bank Indonesia's Board of Governors meeting from January 22 to January 23 due to external factors," PT TRFX Garuda Berjangka Director, Ibrahim Assuaibi said, referring to IMF's correction on global economic growth in 2020 from 3.4 percent to 3.3 percent.

Despite many expecting Bank Indonesia to hold its interest rate at five percent, some have projected the central bank would lower the interest rate by 25 basis point (bps) to 4.75 percent.

On Tuesday morning, the rupiah dropped 19 points, or 0.14 percent, to Rp13,658 against the United States (US) dollar in the Jakarta interbank market.

Meanwhile, the rupiah declined to Rp13,658 against the dollar, while the day before, it was recorded at Rp13,654 against the dollar, according to Bank Indonesia's exchange rate Tuesday.

Related news: Correction in Asian markets weighs down on rupiah
Related news: Rupiah's strengthening still conforms to economic fundamentals: BI


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