Rupiah Weakened Again, Closed Monday Afternoon At Rp13,712 Per US Dollar

JAKARTA - The rupiah exchange rate on the spot market was closed lower at the close of trading today, Monday, February 10. The rupiah weakened 37 points or 0.27 percent to a level of Rp13,712 per US dollar.

The increasing foreign exchange reserves should be able to support currency resilience from the external sector and maintain macroeconomic and financial stability.

The rupiah also weakened despite market optimism about improving trade relations between the US and China after Panda Country announced that it would halve import tariffs of US $ 75 billion for US products as China's effort to fulfill the promise of the first phase trade agreement.

The rupiah became the currency with the deepest decline in the region this afternoon. The next position is the Malaysian ringgit which weakened 0.21 percent. The Korean won and Japanese yen were also in the red zone weakening 0.07 percent and 0.05 percent, respectively.

Meanwhile, the Chinese yuan was the highest-rising currency in the region after gaining 0.31 percent.

Similar Thai baht and Singapore dollar also raised 0.21 percent and 0.11 percent, respectively. Following this, the Taiwan dollar rose 0.06 percent.

There was also the Hong Kong dollar and Indian rupee which edged up 0.02 percent and 0.01 percent, respectively.