The Rupiah Plummeted to IDR 14,615 per US Dollar, Lack of Strong Drugs
ChannelRakyat. The rupiah exchange rate was in the position of Rp14,615 per US dollar (US) in spot market trading this Tuesday morning. This position weakened 62 points or 0.43 percent compared to Monday at Rp14,553 per US dollar.
In line with the rupiah, several Asian currencies also weakened from the US dollar. The South Korean won weakened 0.3 percent, the Malaysian ringgit was minus 0.19 percent, the Philippine peso was minus 0.17 percent, and the Singapore dollar was minus 0.02 percent.
However, several other currencies managed to park in the green zone, as the Hong Kong dollar rose 0.02 percent, the Thai baht was 0.12 percent, and the Japanese yen was 0.25 percent.
The same goes for the major currencies of developed countries, some of which rose from the US dollar, such as the Swiss franc 0.14 percent, British pound 0.06 percent, European euro 0.05 percent, and Russian ruble 0.04 percent. However, the Australian dollar weakened 0.03 percent and the Canadian dollar was minus 0.03 percent.
CSA Research Institute analyst Reza Priyambada estimates the rupiah will weaken again today because of the lack of positive sentiment that supports the movement of the currency of Garuda. In fact, at the same time the US dollar has not been separated from negative sentiment.
The negative sentiment of the US dollar came, among others, from a statement by the US central bank, The Federal Reserve, which was concerned about Uncle Sam's economic outlook going forward. "This also reduced expectations for a Fed rate hike," he said on Tuesday.
Unfortunately, the movement of the rupiah did not get support from within the country and the Asian region. The rupiah actually received negative sentiment from Japan, due to the release of Sakura's economic growth data which was corrected to 2.5 percent in the third quarter of 2018.
"So the sentiment from global and internal is not enough to support the increase in the rupiah. In other words, it is still possible to move back weaker," he concluded.
In line with the rupiah, several Asian currencies also weakened from the US dollar. The South Korean won weakened 0.3 percent, the Malaysian ringgit was minus 0.19 percent, the Philippine peso was minus 0.17 percent, and the Singapore dollar was minus 0.02 percent.
However, several other currencies managed to park in the green zone, as the Hong Kong dollar rose 0.02 percent, the Thai baht was 0.12 percent, and the Japanese yen was 0.25 percent.
The same goes for the major currencies of developed countries, some of which rose from the US dollar, such as the Swiss franc 0.14 percent, British pound 0.06 percent, European euro 0.05 percent, and Russian ruble 0.04 percent. However, the Australian dollar weakened 0.03 percent and the Canadian dollar was minus 0.03 percent.
CSA Research Institute analyst Reza Priyambada estimates the rupiah will weaken again today because of the lack of positive sentiment that supports the movement of the currency of Garuda. In fact, at the same time the US dollar has not been separated from negative sentiment.
The negative sentiment of the US dollar came, among others, from a statement by the US central bank, The Federal Reserve, which was concerned about Uncle Sam's economic outlook going forward. "This also reduced expectations for a Fed rate hike," he said on Tuesday.
Unfortunately, the movement of the rupiah did not get support from within the country and the Asian region. The rupiah actually received negative sentiment from Japan, due to the release of Sakura's economic growth data which was corrected to 2.5 percent in the third quarter of 2018.
"So the sentiment from global and internal is not enough to support the increase in the rupiah. In other words, it is still possible to move back weaker," he concluded.
Komentar
Posting Komentar