Rupiah Opens Slightly Weaker at 18,075 per US Dollar

Indonesia’s rupiah opened weaker against the US dollar on Tuesday, at 18,075 rupiah per dollar, down 0.03% from Monday’s close.

The currency had strengthened in the previous session, while the US dollar index edged up slightly.

The government says business groups welcome clearer rules on keeping some export earnings in Indonesia.

The policy covers how foreign currency earned from natural-resource exports is held and used domestically, and could increase local access to foreign currency.

Its effect on the rupiah depends on whether exporters actually place and convert those earnings in Indonesia.

Bank Indonesia was due to publish September retail sales figures later on Tuesday, while lower oil prices may ease pressure on the rupiah by reducing the foreign currency needed for energy imports.