Jakarta, CNN Indonesia —
The rupiah exchange rate opened at IDR 15,182 per US dollar in spot market trading on Monday (27/3) morning. The Garuda currency weakened 29.5 points or minus 0.19 percent compared to the previous day’s close.
Asian currencies are noted to vary. The Chinese yuan fell 0.65 percent, the Singapore dollar fell 0.01 percent, the Thai baht minus 0.13 percent. Meanwhile, the Malaysian ringgit strengthened 0.01 percent.
Then, the Japanese yen plus 0.06 percent, the South Korean won fell 0.54, and the Philippine peso stagnated.
The major currencies of the majority of developed countries strengthened. The British pound added 0.03 percent, the European euro strengthened 0.07 percent, the Swiss franc rose 0.08 percent and the Canadian dollar grew 0.09 percent. Then, the Japanese yen plus 0.06 percent, the South Korean won fell 0.54, and the Philippine peso stagnated.
DCFX analyst Lukman Leong said the rupiah weakened due to rising US bond yields and a rebound in the US dollar.
“The rupiah is expected to weaken due to rising US bond yields and rebounding against the US dollar after strong PMI manufacturing data and hawkish statements from The Fed Bullard (President of the St Louis Federal Reserve James Bullard) for the US economy,” he told CNNIndonesia.com.
Today, Lukman estimates that the rupiah will be in the range of IDR 15,100-IDR 15,250 per US dollar.