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Jakarta Post

Rupiah weakens to Rp 15,248 on Monday

  • News Desk

    The Jakarta Post

Jakarta   /   Mon, October 15, 2018   /   01:56 pm
Rupiah weakens to Rp 15,248 on Monday A customer counts US dollars at an ITC Kuningan money changer in South Jakarta. (Antara/Puspa Perwitasari)

The rupiah weakened again on Monday as the currency was cited at 15,248 per United States dollar in a spot market at 10 a.m. on Monday, 0.34 percent lower than its position last Friday, as reported by Bloomberg.

Meanwhile, the Jakarta Interbank Spot Dollar Rate showed that the rupiah's exchange rate on Monday weakened 0.03 percent to Rp 15.246 per US dollar compared to its position on Friday.

The weakening was the result of the US dollar's strength against a number of world currencies, including the euro, said futures firm Monex Investindo Futures analyst Faisyal, adding that there were many negative sentiments in Europe, including Italian state budget issues and the debate on Brexit.

He also said the dollar's strengthening was triggered by the unknown whereabouts of Washington Post journalist Jamal Khashoggi, which sparked a dispute between the United States and Saudi Arabia, as the US accused Saudi Arabia of withholding information.

“The conflict causes fear among investors, who avoid holding onto risky assets like the rupiah,” said Faisyal as reported by kontan.co.id.

He estimated the rupiah would be in the range between Rp 15,200 and Rp 15,280 on Monday. (bbn)