Rupiah Gains on Dollar as Most Asian Currencies Weaken
Translator
Ririe Ranggasari
Editor
Petir Garda Bhwana
Selasa, 8 Maret 2022 13:33 WIB
TEMPO.CO, Jakarta - The rupiah opened today's trade with a gain on the US dollar while most Asian currencies were corrected, Tuesday, March 8. The rupiah climbed 21 points or 0.15 percent to trade for Rp14,393.50 per dollar.
Bloomberg's data as of 09:01 Jakarta time showed that the US dollar index, which measures the strength of the greenback, weakened by 0.22 percent or 0.22 points to 99.07.
Apart from the rupiah, the majority of other currencies in the Asian region weakened. The Indian rupee was down 1.06 percent, the South Korean won fell 0.42 percent, the Japanese yen fell 0.10 percent, and the Thai baht was down 0.08 percent.
The Chinese yuan was among the few Asian currencies that strengthened with 0.14 percent.
TRFX Garuda Berjangka director Ibrahim Ascustombi previously estimated that the rupiah today will fluctuate but has the opportunity to close lower in the range of Rp14,390 to Rp14,440 per US dollar.
Yesterday, the greenback gained over other currencies as the war in Ukraine has sent oil prices up—triggering fears of a stagflation could send shocks across Europe.
Read: Indonesian Crude Oil Prices Surge Amidst Ukraine, Russia Conflict
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