Business · Markets · 1 hr ago

Rupiah weakens to 17,948 per US dollar in Tuesday morning trading

Rupiah weakens to 17,948 per US dollar in Tuesday morning trading

The rupiah, Indonesia’s currency, weakened to 17,948 per US dollar in Tuesday morning trading.

It fell 35 points, or 0.20%, from the previous session.

Currency movements across Asia were mixed, with some currencies weakening and others strengthening against the dollar.

Currency analyst Lukman Leong said rising tensions in the Middle East were pushing up global crude oil prices and putting pressure on the rupiah.

He expected the rupiah to trade between 17,850 and 18,000 per US dollar that day.

The exchange rate matters because it shows how much the rupiah is worth compared with the US dollar.

The day’s trading range was a forecast, not a confirmed outcome.

What people are saying

Lukman LeongDOO Financial Futures currency analyst
The rupiah is expected to weaken against the US dollar amid escalating geopolitical tensions in the Middle East, which are pushing global crude oil prices higher again.
via CNN Indonesia

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