Rupiah Weakens to Rp 15,700/US$ (Tuesday, April 14)

The Rupiah weakened to Rp 15,700/US$ at the opening of Tuesday's (April 14th) trading, compared to Rp 15,630/US$ on Monday (March 13th). Lukman Leong, an analyst at Valbury Asia Futures, predicts the Rupiah will experience slight pressure amid expectations that Bank Indonesia will cut its benchmark interest rate later today. The Rupiah is expected to move between Rp 15,600-16,000/US$.

As of 9:00 AM, the Rupiah had weakened by 0.46%. Besides the Rupiah, the Thai Baht weakened by 0.12%. Meanwhile, the strongest appreciating Asian currencies were the Japanese Yen and the Philippine Peso, both up by 0.1%. Other appreciating currencies include the Chinese Yuan (0.09%), the South Korean Won, and the Taiwanese Dollar (both 0.07%). The only other weakening currency was the Thai Baht (0.12%).