Within 20 Minutes, The Rupiah Dropped From An IDR 14,500 To An IDR 14,700 Per US Dollar

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market was opened lower on Wednesday, September 2 trading. JCI opened lower by 32 points to a level of Rp14,605 per US dollar (US) compared to yesterday's close of Rp14,573.

As for VOI's monitoring at 09:20, the rupiah was getting deeper and deeper. The rupiah weakened by 1.15 percent or 168 points to a level of Rp14,740 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that this morning the regional exchange rate looked depressed against the US dollar. The strengthening of the US dollar was triggered by improving data on the US manufacturing activity index for August released last night.

"This sentiment could also put pressure on the rupiah exchange rate today, plus the domestic deflation factor in August which indicates people's purchasing power has not improved," Ariston told VOI.

But on the other hand, he continued, the Fed's loose stance could prevent the rupiah from weakening too far. According to him, the rupiah has the potential to move in the range of Rp. 14,500-14,700 per US dollar, "he explained.

This morning at 09:00 WIB, the rupiah led the weakening of Asian currencies against the US dollar this morning. Apart from the rupiah, the South Korean won also fell 0.30 percent, the Thai baht weakened 0.31 percent.

Then the Philippine peso weakened 0.23 percent, the Malaysian ringgit weakened 0.19 percent, the Japanese yen weakened 0.11 percent, the Chinese yuan weakened 0.10 percent, the Singapore dollar weakened 0.05 percent and the Hong Kong dollar weakened 0.001 percent against the US dollar .

Meanwhile, the Indian rupee and the Taiwan dollar strengthened against the US dollar by strengthening 1.02 percent and 0.20 percent, respectively.