Rupiah weakens on decline of risk assets

Rupiah weakens on decline of risk assets

A man sorts Indonesian rupiahs and US dollars before the exchange rate graphic on the computer screen.

Indeed, the other risk assets, including the Asian share index, also weakened on the expectation of the US government's stimulus.
Jakarta (ANTARA) - The rupiah fell against the US dollar in the Jakarta interbank market on Wednesday evening following the weakening of risk assets.

The Indonesian currency weakened 22 points or 0.16 percent, to close at Rp14,374 per US dollar compared to Rp14,352 per US dollar previously.

"Indeed, the other risk assets, including the Asian share index, also weakened on the expectation of the US government's stimulus," Monex Investindo Futures Chief Researcher, Ariston Tjendra, said in Jakarta on Wednesday.

The Jakarta composite share price index (IHSG) fell 66.72 points, or 1.28 percent, to close at 5,154.11 on Wednesday evening. Meanwhile, the index of the 45 most liquid stocks (LQ45) declined 12.7 points or 1.53 percent, to 819.77.

The weakening of IHSG followed the decline of the Asian regional stock exchange.

The rupiah strengthened at Rp14,305 per US dollar during the morning's trading. Throughout the day, the rupiah stayed in the range of Rp14,305 to Rp14,395 per US dollar.

According to the Bank Indonesia mid-rate, the rupiah strengthened against the US dollar to Rp14,323 compared to Rp14,411 earlier.  Related news: Ministry to continually monitor COVID-19 impacts on Indonesian economy
Related news: BI strengthens measures to stabilise rupiah




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