JAKARTA (Yosefardi) – The rupiah was traded at Rp12,019 against the US dollar at 2.11 am Jakarta time Thursday (September 18), weakened 0.4% from Wednesday’s close.
The rupiah reached its strength at Rp10,853 over the US dollar in October 21, 2013 then it depreciated to reach its weakness at Rp12,240 in February 3, 2014.
Year to date, the rupiah appreciated 1.2% over the US dollar but weakened 6.4% from its strength at Rp11,293 in March 17, 2014.
Some factors hits the rupiah are the global uncertainty related to the Fed rate policy and the growing demand on the US dollar by local companies which hunt the dollar for paying their foreign debts.
Bank Indonesia governor Agus Martowardojo noted that many currencies, not only Indonesia, are weakening over the US dollar, then he considers the current rupiah weakness as normal.