Rupiah Plunges 6.6% Since the Beginning of the Year

Economics & Macro

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Yosepha Pusparisa 13/03/2020 16:35 WIB

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The Indonesian Rupiah weakened against the US dollar on Friday (March 13th), reaching Rp 14,815/USD, a 6.6% decline since the beginning of the year. This weakening is suspected to be due to negative s

Indonesian Rupiah Exchange Rate against the US Dollar

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Rupiah Plunges 6.6% Since the Beginning of the Year

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Indonesian Rupiah Exchange Rate against the US Dollar

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The Indonesian Rupiah weakened against the United States dollar on Friday (March 13th). In the spot market opening, the Rupiah fell 0.05% to Rp 14,595 per US dollar. This weakening is suspected to be due to the ongoing novel coronavirus (COVID-19) pandemic, which is creating negative sentiment.

The Rupiah continued to weaken, reaching Rp 14,815 per US dollar. According to FXStreet.com, this is the lowest level since November 2018. Since closing on January 2nd, 2020, the Rupiah has been at Rp 13,895/USD. Its value has weakened by approximately 6.6%.

Editor : Safrezi Fitra

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."