TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Rupiah continues to drop in Wednesday'€™s trading

The rupiah exchange rate continued its downward trend on Wednesday afternoon following concerns that the US Federal Reserve might increase interest rates in September

The Jakarta Post
Wed, August 26, 2015

Share This Article

Change Size

Rupiah continues to drop in Wednesday'€™s trading

T

he rupiah exchange rate continued its downward trend on Wednesday afternoon following concerns that the US Federal Reserve might increase interest rates in September.

The rupiah weakened by 45 points to Rp 14,099 per US dollar from its previous position at Rp 14,054.

'€œThe US dollar strengthened against the rupiah following investors'€™ worries about the possibility that the Fed will increase its interest rate in September,'€ Monex Investindo Futures head of research Ariston Tjendra told the Antara news agency.

He added that Indonesia'€™s economic slowdown had also affected the rupiah'€™s value.

'€œWe hope Indonesia'€™s economic recovery will come soon so that the rupiah can get better,'€ he said.

Meanwhile, BNI Asset Management senior fund manager said that the central bank'€™s efforts to protect the rupiah had stopped the currency from depreciating further.

'€œBI [Bank Indonesia or the central bank] is consistent enough to keep an eye on rupiah movement so we can see that the drop in the currency'€™s value is quite limited even though it is suffering from depreciation,'€ Hanif said.

BI'€™s median rate recorded that the rupiah exchange rate weakened to Rp 14,102 per US dollar on Wednesday from Rp 14,067 in the previous day. (ika)(++++)

{

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.