Indonesian rupiah shows bearish trend amid US-China trade war

The Indonesian rupiah exchange rate, traded at the Jakarta inter-bank market earlier this week, depreciated over market fears surrounding the US-China trade impasse, as an agreement is yet to be reached between the two superpowers.  

The rupiah slid 11 points, or 0.08 percent, to Rp14,336 against the greenback than its earlier position of Rp14,225 per US dollar.

Lana Soelistianingsih, economist from Samuel Aset Manajemen, remarked here on Monday that the rupiah had weakened in line with Chinas economic slowdown resulting from the trade war with the United States (US).

The US-China trade war has triggered concerns, thereby further slowing down the Chinese economy, Soelistianingsih remarked.

Chinas industrial production growth decelerated to five percent year-on-year (yoy) in May 2019, from 5.4 percent yoy in April, and far lower than the market expectations of 5.5 percent yoy. This index is the lowest recorded since 2002.

The slowdown was not solely restricted to the manufacturing sector but also the utilities sector.

The slowdown in data has impelled almost all global markets to respond negatively, Soelistianingsih pointed out.

In the meantime, the middle exchange rate of Bank Indonesia, the central bank, on Monday showed that the rupiah decreased to Rp14,346 per US dollar than Rp14,304 per US dollar on the previous day. 

 

Source : Antara News.com

June 29, 2019

 
Bank note current rate:
  currency buy sell
HKD 0 0
MYR 0 0
THB 0 0
NT 0 0
WON 0 0
DKK 0 0
SEK 0 0
BND 0 0
USD 13,550 0
AUD 9,950 0
SGD 9,875 0
CAD 10,625 0
GBP 18,850 0
EURO 15,825 0
SFR 14,750 0
YEN 117.75 0
NZD 9,500 0
   Last Updated :23 Oct 2021 - 10:26 AM
These are indicative rates. For actual exchange rates, please visit or call our outlets at (0361) 4741 940. We reserve the right to change the rates at any time without prior notice.
Currency Converter

Please Note :
Central Kuta does not sell foreign currencies in small denominations. Please Contact us for further information.