Closed Wednesday Rupiah Weakening 18 Points To Rp14,283 Per US Dollar

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market was closed lower on Wednesday, July 1 trading. The rupiah closed down 0.13 percent or 18 points to the level of IDR14,283 per US dollar (US).

Head of Research at Monex Investindo Futures, Ariston Tjendra, previously said that the rupiah was still in a vulnerable condition due to the many negative sentiments.

Concerns of slowing economic recovery due to the still high number of COVID-19 cases still suppress the movement of risky assets.

In addition, he said, the passage of the Hong Kong Security Act has the potential to increase tensions between the US and China, giving negative sentiment to risk assets. The rupiah was also under pressure from this negative sentiment.

This afternoon, the majority of currencies in the Asian region weakened against the US dollar. The weakness was led by the Thai baht which depreciated 0.14 percent.

Followed by the rupiah which weakened 0.13 percent, and the Indian rupee, which weakened 0.10 percent. Then the South Korean won and the Philippine peso fell 0.05 percent and 0.03 percent, respectively.

The Hong Kong dollar and Malaysian ringgit were recorded to have stagnated against the US dollar.

The stronger currency was led by the Japanese yen which strengthened 0.42 percent. Followed by the Chinese yuan and Singapore dollar which both gained 0.06 percent.