On Thursday, Rupiah Closed Thinly Down 20 Points To Rp14,885 Per US Dollar

JAKARTA - The rupiah exchange rate on the spot market closed lower on trading Thursday, May 14. The rupiah closed down 20 points or 0.13 percent at Rp14,885 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, previously said that negative sentiment was still overshadowing market movements. This was after the Governor of the US Central Bank, Jerome Powell, expressed his view that the economy could still deteriorate in the future and needed additional stimulus.

In addition, Powell also dismissed the Fed's support for negative interest rates. As a result, the rupiah weakened against the US dollar, but the pressure on the rupiah may not be big because many investors are still confident in the Indonesian economy as evidenced by the high interest in government bonds (SUN).

This afternoon, the majority of currencies in Asia weakened against the US dollar. The highest decline was experienced by the Philippine peso, which fell 0.38 percent, followed by the South Korean won, which fell 0.34 percent.

Then the Malaysian ringgit weakened 0.24 percent, the Indian rupee weakened 0.13 percent, the Taiwan dollar weakened 0.07 percent, and the Thai baht weakened 0.02 percent.

The Hong Kong dollar became an Asian currency that was able to strengthen against the US dollar with a gain of 0.01 percent.