According To Analysts' Predictions, The Rupiah Closed On Wednesday As Weak And The Weakest In Asia

JAKARTA - The rupiah exchange rate on the spot market was closed lower in trading Wednesday, August 26. The rupiah closed sluggishly and weakened 0.20 percent or 29 points to a level of Rp14,678 per US dollar (US).

In fact, in early trading today, the rupiah had strengthened to below Rp. 14,585 per US dollar. Monex Investindo Futures Head of Research, Ariston Tjendra previously said that the market was still skeptical about the continuation of the US-China phase 1 trade deal due to the heated political relationship between the two.

According to Ariston, this has the potential to weaken the rupiah and other emerging market currencies. Even at 15:00 WIB, currency movements in Asia tended to weaken.

The rupiah also became the currency with the deepest weakness in the region. Followed by the South Korean won, which fell 0.14 percent.

Then, the Singapore dollar and the Philippine peso were both corrected by 0.04 percent. The same thing happened to the Malaysian ringgit which weakened 0.04 percent against the US dollar.

Then, the Indian rupee and the Taiwan dollar were both depreciated by 0.03 percent ahead of this afternoon.

Meanwhile, the Thai baht became the region's highest strengthening currency after gaining 0.33 percent. This was followed by the Chinese yuan which strengthened 0.23 percent against the US dollar.

Next, the Japanese yen rose 0.09 percent and the Hong Kong dollar edged up 0.003 percent ahead of this afternoon.