Global financial market uncertainty following Donald Trump's election as President of the United States and escalating trade wars triggered an appreciation of the US dollar against major world currencies. This led to a weakening of the Indonesian Rupiah (IDR).
Bloomberg data on Asiabondsonline shows that the Rupiah (IDR) exchange rate closed at Rp16,787 per US dollar on Monday, April 14, 2025, depreciating 3.9% year-to-date (YTD) compared to the beginning of January 2025. This weakening was the most significant among other Asian currencies.
The next most significant weakening among Asian currencies was the Vietnamese Dong at 1.33% (YTD), followed by the Chinese Yuan (CNY) at 0.14% (YTD), and the Myanmar Kyat (MMK) at 0.09% (YTD).
Meanwhile, the Japanese Yen (JPY) led the strengthening of Asian currencies this year, appreciating by 9.88% (YTD). Amidst global concerns, the Yen is considered a safe haven asset for investors.
Other Asian currencies that strengthened against the US dollar include the South Korean Won (KRW) at 3.95% (YTD), the Brunei Darussalam Dollar (BND) at 3.82% (YTD), and the Thai Baht (THB) at 2.19% (YTD).
Furthermore, the Malaysian Ringgit (MYR) appreciated against the US dollar by 1.33% (YTD), the Singapore Dollar (SGD) by 1.32% (YTD), the Lao Kip (LAK) by 0.9% (YTD), the Cambodian Riel (KHR) by 0.46% (YTD), and the Hong Kong Dollar (HKD) by 0.16% (YTD).
The following are the exchange rates of Asian currencies against the US dollar (April 14, 2025):
1. Laos (LAK): 21,648.79
2. Indonesia (IDR): 16,787.00
3. Cambodia (KHR): 4,010.45
4. Myanmar (MMK): 2,103.00
5. Korea (KRW): 1,422.35
6. Japan (JPY): 143.06
7. Philippines (PHP): 57.08
8. Thailand (THB): 33.63
9. Vietnam (VND): 25.83
10. Hong Kong (HKD): 7.76
11. China (CNY): 7.31
12. Malaysia (MYR): 4.41
13. Singapore (SGD): 3.82
14. Brunei (BND): 1.32