Indonesian rupiah exchange rate once again shows one of its worst performances in the non-deliverable forward (NDF) market.

According to Bloomberg, the rupiah rate in the NDF market dropped by 2.8 percent to Rp 10,533 per US dollar at 9.34 AM on Thursday. During the previous transaction, rupiah even hit Rp 10,566 per US dollar, the weakest performance since August 2009.

Compared to the rate at the spot market, the rupiah value in the NDF market has weakened by six percent. At the spot market, rupiah exchange rate

has weakened by 0.2 percent to Rp 9,924 per US dollar.

The weakening of the rupiah is a direct impact of United States Federal Reserve Head Ben Bernanke's recent speech on the Fed's plan to reduce its stimulus program by the end of this year, according to Bank QNB Kesawan Head of Treasury Suriyanto Chang.

However, Suriyanto said that rupiah would rebound in the near future after the government's recent policy on subsidized-fuel price hike.

"Based on recent history, the rupiah tends to rebound after the subsidized-fuel price is increased," Suriyanto said as quoted by kontan.co.id.

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