The Rupiah On Wednesday Has Weakened 0.12 Percent To IDR 14.290 Per US Dollar

Illustration. (Photo: Doc. Antara)

JAKARTA - The exchange rate of the rupiah against the US dollar, which was transacted between banks in Jakarta on Wednesday, May 19 afternoon, was closed corrected in line with the increasing demand for domestic foreign exchange.

The rupiah closed 17 points lower or 0.12 percent to IDR 14.290 per US dollar compared to the position at the previous closing trade of IDR 14.273 per US dollar.

Bank Mandiri analyst Rully Arya Wisnubroto in Jakarta, Wednesday, said that the rupiah's correction today was a bit anomalous considering that the dollar actually tends to weaken against several other currencies.

"It is a bit anomalous after Eid. Perhaps also due to technical factors and there is also a large domestic demand for foreign exchange for dividend payments and capital repatriation", said Rully, quoted from Antara.

The dollar index, which measures the dollar's strength against other major currencies, is currently still below the 90 level, which is at 89.884.

Meanwhile, the yield on 10-year US bonds is currently at the level of 1.664 percent, down from the previous closing position of 1.642 percent.

However, Rully assessed that the anomaly in the rupiah movement was only temporary.

"It seems that the current balance of the rupiah is in the range of IDR 14.300", said Rully.

The rupiah opened lower in the morning to IDR 14.295 per US dollar. Throughout the day the rupiah moved in the range of IDR 14.288 per US dollar to IDR 14.320 per US dollar.

Meanwhile, the Jakarta Interbank Spot Dollar Rate (JISDOR) on Tuesday weakened to IDR 14.313 per US dollar compared to the position at the previous close of trading of IDR14.300 per US dollar.