Thursday, 23 May 2019 | 14:01 WIB

Rupiah Weakens 13 Points After Three Days of Consecutive Gains

Rupiah Weakens 13 Points After Three Days of Consecutive Gains (klikbabel)

JAKARTA, NETRALNEWS - The exchange rate of the rupiah used at interbank transactions in Jakarta has weakened on Thursday (3/14/2019) after strengthening in the last three days in a row.

The rupiah exchange rate this afternoon weakened 13 points to IDR14,278 per US dollar from IDR14,265 per US dollar.

PT Garuda Futures Director Ibrahim Assuaibi in Jakarta on Thursday said the weakening of the rupiah was influenced by external factors, namely related to the issue of Brexit and also the weakening of the yuan.

"British lawmakers chose to refuse to leave the European Union without a withdrawal agreement. Meanwhile, the yuan also fell after the release of below-expected factory output data," he said.

Meanwhile, Washington targets to cut Iranian crude oil exports by around 20 percent to below one million barrels per day which results in a stronger world crude oil price.

"This will affect the swelling of Indonesia's trade balance because imports of fuel will naturally be more expensive and require a larger US dollar," he said.

The Central Statistics Agency (BPS) is scheduled to release data on Indonesia's international trade in the period February 2019 on Friday (3/15/2019) morning.

Analysts' predictions estimate exports contracted alias minus 4.26 percent (yoy), imports edged up 0.4 percent, and the trade balance minus 841 million US dollars.

The exchange rate (exchange rate) of the rupiah on Thursday morning opened up to IDR14,240 US dollars. Throughout the day, the rupiah moved in the range of IDR14,240 per US dollar to IDR14,280 per US dollar.

Meanwhile, the central exchange rate of Bank Indonesia on Thursday showed that the rupiah strengthened to IDR14,253 per US dollar compared to the previous day at IDR14,269 per US dollar.