JAKARTA - The rupiah exchange rate in the spot market tends to be depressed in early trading today, Monday, May 31. The spot rupiah opened at the level of IDR 14.300 per US dollar.
This made the rupiah weaken by 0.1 percent compared to Friday's closing on May 28 at IDR 14.285 per US dollar. The movement of the rupiah is inversely proportional to the majority of currencies in the region.
As of 9 a.m. local time, the Taiwan dollar was Asia's biggest strengthening currency after surging 0.20 percent. Followed by the Philippine peso which strengthened 0.15 percent against the US dollar.
Next, the Japanese yen rose 0.13% and the Chinese yuan gained 0.05%. Then there was the South Korean won and the Singapore dollar which appreciated 0.04% and 0.02%, respectively.
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Meanwhile, the Malaysian ringgit became the currency with the deepest weakness in the region after sinking 0.11 percent. Followed, the Thai baht weakened 0.05 percent against the US dollar.
Then there's the Hong Kong dollar which is seen to be down 0.006 percent in morning trade.
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