Rupiah Strengthens Against Regional Currencies Throughout 2021

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Viva Budy Kusnandar 31/12/2021 15:30 WIB

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The rise of the domestic economy has boosted the appreciation of the Indonesian Rupiah.

Rise/Fall of the Rupiah Exchange Rate Against Regional Currencies (31/12/2020 – 31/12/2021)

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Rupiah Strengthens Against Regional Currencies Throughout 2021

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Rise/Fall of the Rupiah Exchange Rate Against Regional Currencies (31/12/2020 – 31/12/2021)

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The Indonesian Rupiah strengthened against several regional currencies in 2021 as Covid-19 cases began to subside. The resurgence of the domestic economy boosted the Rupiah's appreciation.

According to Bank Indonesia (BI) data, the Rupiah exchange rate stood at Rp 12,388.93 per Japanese Yen on December 31, 2021. This represents a 9.22% strengthening compared to its position on December 31, 2020, which was Rp 13,647.15 per Japanese Yen (year-on-year/yoy). This strengthening was the largest compared to nine other currencies.

The Rupiah also strengthened by 8.91% (yoy) against the Thai Baht. It appreciated by 7.44% (yoy) against the South Korean Won and strengthened by 6.94% against the Euro.

Furthermore, the Rupiah also strengthened by 4.8% (yoy) against the Philippine Peso, appreciated by 2.17% against the Malaysian Ringgit, and strengthened by 1.04% against the Singapore Dollar.

However, the Rupiah weakened by 0.6% against the British Pound Sterling, depreciated by 1.16% against the United States Dollar, and weakened by 3.54% against the Chinese Yuan.

Editor : Annissa Mutia

"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."