Money.nikaniku.com – Rupiah Exchange Rate Paralyzed Against the US Dollar and World Currencies!. The rupiah exchange rate against the US dollar today was paralyzed at around Rp. 14,800 to become one of the weakest currencies in Asia.
Today’s weakening of the rupiah was overshadowed by market concerns over the decision of the Federal Reserve (The Fed) to raise its benchmark interest rate.
As is known, the Fed expressed an aggressive stance to raise interest rates again to fight US inflation. This has triggered the strengthening of the US dollar against global currencies, including the rupiah.
“From within the country, inflationary pressures that are starting to creep up may be able to depress the rupiah. Inflation can slow down economic growth,” concluded money market observer Ariston Tjendra, quoted by Antara, Tuesday, June 28, 2022.
According to RTI, the rupiah weakened -0.15% to a level of Rp14,814 per US dollar on Tuesday, June 28, 2022. The rupiah was also under pressure by three global currencies, namely the Australian dollar (-0.14%), the pound sterling (-0, 13%), and the euro (- 0.10%).
In Asia, the rupiah is the third weakest currency after the Taiwan dollar (0.26%) and the yuan (0.08%). With other individualized organizations, the rupiah was pressured by the yen (- 0.36%), Singapore dollar (- 0.16%), ringgit (- 0.12%), Hong Kong dollar (- 0.11%), won (- 0.09%), and baht (- 0.09%).