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Asian Currencies November 2025: Ringgit Soars, Rupiah Struggles

Erlina Fury Santika 13/11/2025 20:10 WIB

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According to Asian Bonds Online, the Malaysian ringgit appreciated the most in the Asian region as of November 12, 2025. Concurrently, the rupiah experienced the deepest fall.

Appreciation/Depreciation of Asian Regional Currencies Against the US Dollar (January 2 - November 12, 2025)

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Asian Currencies November 2025: Ringgit Soars, Rupiah Struggles

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Appreciation/Depreciation of Asian Regional Currencies Against the US Dollar (January 2 - November 12, 2025)

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Data collected by Asian Bonds Online from the Asian Development Bank (ADB) shows that the Malaysian ringgit is the currency with the highest appreciation in the Asian region.

As of the market close on Wednesday, November 12, 2025, the Malaysian ringgit had strengthened by 8.15% against the US dollar (USD) year-to-date (ytd).

The exchange rate of the US dollar against the internationally coded currency MYR was RM4.14 at yesterday's market close.

The ringgit's position is in contrast to the rupiah, which experienced the deepest depreciation in the region, reaching 3.5%. The rupiah's exchange rate also weakened to Rp16,717 at the market close on November 12, 2025.

Here is the summary of changes in Asian regional currencies against the US dollar year-to-date (ytd) as of November 12, 2025:

Malaysia (MYR): 8.15%
Thailand (THB): 6.15%
Brunei Darussalam (BND): 4.88%
Singapore (SGD): 4.88%
China (CNY): 2.65%
Japan (JPY): 1.53%
South Korea (KRW): 0.67%
Laos (LAK): 0.65%
Cambodia (KHR): 0.30%
Hong Kong (HKD): -0.03%
Myanmar (MMK): -0.09%
Philippines (PHP): -2.04%
Vietnam (VND): -3.28%
Indonesia (IDR): -3.50%.

Bank Indonesia (BI) even forecasts that the rupiah's weakening will continue into 2026, according to Katadata's reporting. In Bank Indonesia's Annual Budget Plan (RATBI) 2026, the rupiah's exchange rate is targeted at Rp16,430 per US dollar.

This target is weaker compared to the assumption in Bank Indonesia's Annual Budget (ATBI) 2025, which was Rp15,285 per US dollar.

"The average rupiah exchange rate is Rp16,430 per US dollar, almost the same as the 2025 prognosis of Rp16,440 per US dollar," said BI Governor Perry Warjiyo during a working meeting with House of Representatives Commission XI on Wednesday (13/11/2025).

Perry believes this target is still realistic, given the global economic uncertainty expected to continue until next year.

Editor : Erlina Fury Santika

"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."