Thursday, 27 February 2020

Rupiah Weakens to Rp14,200 per US Dollar



Petir Garda Bhwana

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  • TEMPO.CO, Jakarta - The Indonesian rupiah continued to depreciate against the US dollar in the Jakarta interbank market, Tuesday evening. The rupiah fell 21 points, or 0.14 percent, to close at Rp14,216 against the dollar compared to the previous close of Rp14,195.

    Question marks remain over the domestic political, social and security situation and can heat up anytime. That may stop investors from putting their money on the rupiah, PT Garuda Berjangka Director Ibrahim Assuaibi said in Jakarta.

    "If the condition gets more and more unsafe, there will be a risk of capital flight and the rupiah will come under further pressure," he said.

    Students will continue to stage demonstrations against controversial bills by using the momentum of the inauguration of the House of Representatives (DPR) members for the 2019-2024 term, he predicted.

    Monday night, demonstrations ended in chaos which damaged and led to the malfunctioning of public facilities, he said.

    The rupiah strengthened to Rp14,190 in the morning. Throughout the day, it hovered between Rp14,188 and Rp14,218.

    According to the Bank Indonesia mid-rate Tuesday, the rupiah depreciated to Rp14,196 compared to Rp14,174 earlier.