Rupiah weakens against dollar before weekend as PSBB returns

Rupiah weakens against dollar before weekend as PSBB returns

Illustration - Indonesian rupiah and US dollar banknotes. ANTARA FOTO/Puspa Perwitasari/am.

The market is still responding negatively to the Jakarta governor's statement on Wednesday night pertaining to the total re-imposition of large-scale social restrictions from Sept 14.
Jakarta (ANTARA) - The Indonesian rupiah weakened against the US dollar in the Jakarta interbank market on Friday in the wake of the Jakarta provincial government's decision to re-enforce large-scale social restrictions (PSBB), effective from Sept 14.

The rupiah plunged 35 points, or 0.24 percent, to close at Rp14,890 per dollar against Rp14,855 earlier.

"The market is still responding negatively to the Jakarta governor's statement on Wednesday night pertaining to the total re-imposition of large-scale social restrictions from Sept 14," PT TRFX Garuda Berjangka Director Ibrahim Assuaibi stated here on Friday.

On the external front, the global upward trend of COVID-19 cases has dampened expectations of a swifter economic recovery. Johns Hopkins University recorded over 28 million COVID-19 cases worldwide as of Sept 11.

The rupiah opened lower at Rp14,900 per dollar in early trade. All through the day, the rupiah hovered in the range of Rp14,890 to Rp14,950 per dollar.

According to the Bank Indonesia mid-rate on Friday, the rupiah weakened to Rp14,979 per dollar, from the earlier close of Rp14,871 per dollar. Related news: Rupiah to likely record another correction over PSBB re-imposition
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