Rupee exchange rate it fell 0.24 percent to reach Rp 15,500 per month dollar AS Wednesday (10/19) at 3:07 pm WIB.
A weakening of most currencies in the Asian region was observed. The South Korean won weakened by 0.27%, the Singapore dollar weakened by 0.04% and the Malaysian ringgit by 0.14%.
Thus, the Chinese yuan was minus 0.22%, the Philippine peso was minus 0.29%, the Japanese yen was minus 0.05%, and the Hong Kong dollar was stagnant.
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Meanwhile, the currencies of developed countries have weakened compact. The British pound weakened by 0.37 percent, the Swiss franc by less than 0.38 percent, the European euro by less than 0.22 percent, the Australian dollar by less than 0.08 percent and the Canadian dollar. less than 0.13 per cent.
DCFX Futures analyst Lukman Leong said the weakening of the rupee occurred due to negative investor sentiment on the rupee regarding inflation outlook and BI interest rates in the future.
According to him, the market suspects that BI will not implement monetary policy, i.e. by aggressively raising the benchmark interest rate because inflation is still under control.
Even so, Lukman sees BI will raise interest rates again to suppress the current weakening of the rupee.
“With the significant weakening of the rupee, I see an opportunity for BI to raise at least 50 bps at tomorrow’s meeting and there is an option to quote with a greater than 75 bps increase to ease the pressure on the rupee,” he told CNNIndonesia.com, Wednesday (10/19).
(mr / august)
