Indonesian Rupiah Exchange Rate Today: Extending Depreciating Trend
On Tuesday (26/11), Bank Indonesia's mid rate depreciated 0.37 percent to IDR 11,765 per US dollar, which is the lowest level the currency has touched since March 2009. Main reason for today's decline is the government's US dollar-denominated bond auction yesterday (25/11) that fell USD $450 million short of its target. The bond issuance was negatively impacted by investors' concern about the looming scaling back of the Federal Reserve's quantitative easing program as US economic data improve.
Today, the rupiah is one of the worst performing currencies in the Asia Pacific against the US dollar. Another contributing factor is that the European Central Bank (ECB) stated yesterday (25/11) that interest rates in the Eurozone will remain low for a while and might even go lower if necessary. This had an appreciating affect on the US dollar.
Since the start of November 2013, the rupiah has fallen 3.6 percent against the US dollar. In 2013 so far, it has depreciated 21.7 percent.
Indonesia Stock Exchange
Indonesia's benchmark stock index (IHSG) fell 1.03 percent to 4,290.36 after the first trading session on Tuesday (26/11). After yesterday's gain - in combination with high market uncertainty - investors seems to prefer to engage in profit taking. Foreign investors recorded a net sell of IDR 32 billion (USD $2.7 million). Particularly, Unilever Indonesia (-2.52 percent), Telekomunikasi Indonesia (-2.33 percent), Bank Central Asia (-1.97 percent), Astra International (-1.53 percent) and Bank Rakyat Indonesia (-1.30 percent) were blue chips that were impacted by foreign selling in the first trading session.
Bahas
Silakan login atau berlangganan untuk mengomentari kolom ini
Berita Hari Ini
- Economic Update Indonesia: Economy Expands at a Rate of 4.95% (Y/Y) in Q3-2024
- Consumer Price Index: After Five Months of Deflation, Indonesia Finally Sees Inflation Again
- Bankruptcy of Textile Giant Sri Rejeki Isman – Challenges Faced by the Textile Industry
- Indonesia Investments Releases October 2024 Report: 'Eight President of Indonesia'
- Prabowo Subianto Officially Inaugurated as Indonesia’s Eight President