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Wednesday Morning, Rupiah Still Weakens to IDR 14,191 Per US Dollar

Wednesday 10/16/2019 at 8.23 WIB, the spot of rupiah getting weakened of 0.18 percent to Rp.14,191 per US dollar.

Wednesday Morning, Rupiah Still Weakens to IDR 14,191 Per US Dollar
kompas.com
Illustration of rupiah and US dollar (THINKSTOCKS) 

TRIBUNBATAM.id - The rupiah exchange rate weakened in the middle of this week. Wednesday 10/16/2019 at 8.23 WIB, the spot of rupiah weakened 0.18 percent to Rp.14,191 per US dollar.

This is the weakening of the rupiah in three consecutive days since the beginning of the week. Within three days, the weakening of the rupiah reached 0.37 percent.

Indonesia recorded a trade balance deficit of 1.95 billion US dollars in the first nine months of this year. While exports in September fell 1.29 percent. 

Goldman Sachs, in a research quoted by Bloomberg, revealed that 10-year government bonds are still attractive with a yield of 7.3 percent.

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Jonathan Sequeira, an analyst at Goldman Sachs, revealed that the fair value of this yield according to Goldman's count was 5.8 percent.

Goldman estimates that Bank Indonesia will cut the interest rates again by 25 basis points in October. 

Not only the rupiah, the majority of Asian currencies also weakened at this morning. Strengthening was only seen in the yen, baht and Hong Kong dollars. 

According to Bloomberg data, the rupiah has strengthened 1.4 percent since the beginning of the year. This rupiah position is the third best after the baht which rose 6.28 percent and the peso which gained 1.62 percent. (*) 

Penulis: Lia Sisvita Dinatri
Editor: Lia Sisvita Dinatri
Sumber: Kompas.com
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