JAKARTA - The rupiah exchange rate on the spot market closed slightly lower on trading Thursday, May 28. The rupiah closed down 0.03 percent or 5 points to a level of Rp14,715 per US dollar (US).
Since this morning, the rupiah has been moving in a weakening position. From the opening earlier until the closing of this afternoon, the rupiah was always above the yesterday's level which was closed at Rp14,710 per US dollar.
Until 15.00 WIB, currency movements in the region were still variable. The South Korean won was still the currency with the deepest weakness after closing down 0.41 percent.
Negative sentiment for the won came after the Bank of Korea (BOK) cut South Korea's economy in 2020 to a contraction of 0.2 percent.
Furthermore, there was the Malaysian ringgit which also fell 0.21 percent. This was followed by the Japanese yen and the Philippine peso, which corrected 0.11 percent and 0.08 percent, respectively.
Furthermore, there are the Taiwan dollar and Indian rupee which are in the red zone after both depreciating 0.03 percent against the US dollar.
The Thai baht is still showing its strength throughout the day after becoming the currency with the biggest gain, rising 0.16 percent.
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