Wednesday Morning, Rupiah Keok Weakened To The Level Of Rp14,525 Per US Dollar

JAKARTA - The rupiah exchange rate in the spot market continued to weaken on Wednesday, June 30. At 09.22 WIB, the rupiah was at the level of Rp. 14,525 per US dollar.

The rupiah weakened 0.27 percent from the close of trading on Tuesday, June 29, which was at Rp. 14,485 per US dollar.

In Asia, the rupiah weakened along with several other currencies, such as the Philippine peso which weakened 0.37 percent, the Korean won weakened 0.15 percent, the Malaysian ringgit weakened 0.07 percent, the Indian rupee weakened 0.04 percent and the Hong Kong dollar weakened. 0.01 percent against the US dollar.

Meanwhile, other Asian currencies strengthened against the US dollar this morning were the Thai baht with an increase of 0.11 percent, the Chinese yuan strengthened 0.10 percent, the Singapore dollar strengthened 0.06 percent, the Japanese yen strengthened 0.04 percent and the dollar Taiwan rose 0.01 percent.

The US dollar itself strengthened at the end of trading Tuesday (Wednesday WIB) as risk aversion appetite increased in the market, boosting demand for safe-haven currencies.

The dollar index, which measures the greenback against a basket of six major currencies, was up 0.18 percent at 92.0547.

In late New York trading, the euro was down to $1.1901 from $1.1923 the previous day, and the British pound was down to $1.3849 from $1.3877 the previous day. The Australian dollar fell to 0.7514 US dollars from 0.7565 dollars.

The US dollar was trading at 110.51 Japanese yen, lower than 110.53 Japanese yen the previous day. The US dollar increased to 0.9210 Swiss francs from 0.9197 Swiss francs, and rose to 1.2392 Canadian dollars from 1.2342 Canadian dollars.

The market reaction above emerged because traders were worried that the new coronavirus outbreak would hamper the global economic recovery.