Rupiah Weakens to Rp16,359 per US Dollar Amid Global Uncertainty

Jakarta – The Indonesian rupiah weakened in the spot market on Wednesday (Feb 19) morning, opening at Rp16,359 per US dollar. The currency fell 81 points, or 0.50%, compared to the previous closing level.

Asian currencies showed mixed movements. The Thai baht gained 0.04%, while the South Korean won fell 0.06%, the Singapore dollar declined 0.02%, the Japanese yen strengthened 0.09%, and the Malaysian ringgit dropped 0.13%.

Meanwhile, major global currencies mostly weakened. The British pound edged down 0.01%, the Euro gained 0.01%, and the Swiss franc slipped 0.01%.

Key Factors Behind Rupiah's Weakening

Financial market analyst Lukman Leong attributed the rupiah's decline to rising concerns over escalating tensions in the Ukraine-Russia peace talks.

"In addition, weak Indonesian economic data has fueled worries about the interest rate outlook ahead of the Bank Indonesia Board of Governors meeting this afternoon," he told CNNIndonesia.com.

Lukman projected that the rupiah would trade in the range of Rp16,250 to Rp16,360 per US dollar throughout the day.

Temukan berita dan artikel lainnya di Google News