Rupiah Plunges Further; Closes at 14,641 per US Dollar

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  • TEMPO.CO, Jakarta - The rupiah`s interbank rate on Wednesday plunged further to close down 15 points to 14,641 per US dollar.

    CSA Research Institute senior analyst Reza Priyambada said that the rupiah was corrected again over lack of positive domestic sentiments. 

    "There was nothing that could motivate market players to buy rupiah-denominated assets," Reza said here on Wednesday, August 29. 

    Read: Rupiah Exchange Rate Strengthens to Rp14,618

    Nevertheless, he said that the correction was limited as it was still within Bank Indonesia's (BI) control. Additionally, there is hope for improvements as investors' fear over the US trade war tension has begun to subdue. 

    He said that the deal between America and Mexico can resurrect investors' interest in vulnerable currencies, such as the rupiah.  Moreover, the US treasury yield's stagnation is likely to prompt investors to enter emerging markets. 

    Meanwhile, BI's middle rate today saw the rupiah corrected to trade for Rp14,643 per US dollar.