Indonesia Rupiah Exchange Rate Continues Downward Spiral on Monday
The Indonesia rupiah exchange rate continued its downward trend on Monday (23/12). Both Bank Indonesia's Jakarta Interbank Spot Dollar Rate (JISDOR) and Bloomberg's Dollar Index showed a depreciating rupiah. The JISDOR, which was launched by Bank Indonesia in May to manage exchange rate fluctuations, fell 0.01 percent to IDR 12,246 per US dollar, while the Bloomberg Dollar Index indicated a 0.29 percent decline of the rupiah to IDR 12,250 per US dollar at 14:10:09 afternoon, local Jakarta time.
Amid political turmoil, the Thai Baht fell to its lowest level (32.70) in almost four years against the US dollar. Thailand has seen a campaign to overthrow the current government of Prime Minister Yingluck Shinawatra, while the country's main opposition party may boycott the February election. Similar to the rupiah, the Thai Baht is also negatively impacted upon by the Federal Reserve's intention to reduce its quantitative easing plan starting from January 2014.
Indonesia Stock Exchange
During the first trading session on Monday (23/12), the Indonesia stock index (IHSG or Jakarta Composite Index) fell 0.85 percent to 4,159.69 points.
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