Rupiah Is Opened Increasingly Falling, Already Entering Rp14,800's

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market was opened to weaken further on Thursday, September 3 trading. The rupiah opened 10 points lower to a level of Rp14,755 per US dollar (US).

According to VOI, at 09:20, the rupiah continued to slip to a level of Rp14,820 per US dollar, aka weakening 75 points.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the US dollar was still seen strengthening against other exchange rates due to the economic recovery sentiment in the US with improving data on manufacturing activity in Uncle Sam's country.

"This could be one of the driving factors for the weakening of the rupiah exchange rate against the US dollar today. In addition, from within the country, deflationary factors and the issue of burden sharing may add to the pressure on the rupiah," explained Ariston to VOI.

On the other hand, the rally that took place on the stock exchanges on emerging markets may have prevented the weakening of the rupiah. According to him, the RUpiah has the potential to move in the range of IDR 14,650-14,850 per US dollar.

The rupiah weakened along with several other Asian currencies, namely the Indian rupee which weakened 0.22 percent, the Korean won weakened 0.07 percent, the Japanese yen weakened 0.04 percent and the Hong Kong dollar weakened 0.001 percent against the US dollar.

Meanwhile, the majority of other Asian currencies strengthened against the US dollar this morning. The Taiwan dollar led the strengthening of Asian currencies against the US dollar with an increase of 0.33 percent, followed by the Chinese yuan which strengthened 0.19 percent, the Malaysian ringgit strengthened 0.18 percent.

Then the Thai baht strengthened 0.10 percent, the Singapore dollar strengthened 0.007 percent and the Philippine peso strengthened 0.06 percent against the US dollar.