Opened Stronger, Rupiah In Fact Closed The Weakest In Asia Pacific

JAKARTA - The rupiah exchange rate on the spot market was closed lower on trading Tuesday, August 11. The rupiah closed down 0.22 percent or 33 points to a level of Rp14,680 per US dollar (US).

The rupiah weakened amidst the focus of investors on fiscal stimulus in the United States. Investors are also watching tensions between US-China ahead of key trade talks on August 15.

The rupiah weakened along with several other Asia Pacific currencies such as the Japanese yen, which weakened 0.12 percent, and the Taiwan dollar weakened 0.06 percent.

Then, the Malaysian ringgit eased 0.05 percent, and the Hong Kong dollar weakened 0.001 percent against the US dollar.

Meanwhile, the majority of other Asian currencies strengthened against the US dollar. The Philippine peso led the strengthening of Asian currencies against the US dollar with an increase of 0.16 percent

Followed by the Indian rupee which strengthened 0.12 percent and, the Chinese yuan strengthened 0.11 percent.

Then the Singapore dollar strengthened 0.07 percent. The Thai baht and South Korean won gained 0.04 percent and 0.003 percent against the US dollar, respectively.