Rupiah Exchange Rate Increases Weakens to Rp14,508 Per US Dollar Monday Morning

Kolom Utama. The exchange rate (exchange rate) of rupiah traded between banks in Jakarta on Monday (10/12/2018) morning moved lower by 26 points to Rp14,508 compared to the previous Rp14,482 per US dollar.

Meanwhile, the rupiah exchange rate traded between banks in Jakarta on Friday (7/12/2018) afternoon appreciated by 42 points to Rp14,482, compared to the previous Rp14,524 per US dollar.

Not only the weakening rupiah on Monday morning, the middle exchange rate of the Chinese renminbi or yuan exchange rate also weakened 29 basis points to 6.8693 against the US dollar on Monday, according to the Chinese Foreign Exchange Trading System.

In the Chinese foreign exchange spot market, the yuan is allowed to rise or fall by two percent from its middle parity level every trading day.

The yuan's middle exchange rate against the US dollar is based on the weighted average price offered by market participants before the opening of the interbank money market, every working day.

Monday Morning Stock Movements

In Indonesia, the Indonesia Stock Exchange (IDX) Composite Stock Price Index (IHSG) opened Monday at 23.25 points or 0.38 percent to 6,103.09.

While the 45 leading stocks or the LQ45 index moved down 5.80 points or 0.59 percent to 971.78.

Chinese stocks also opened lower on Monday morning with the Shanghai Composite Index down 0.64 percent to trade at 2,589.19 points.

The Shenzhen Component Index, which tracks stocks on China's second exchange, opened 0.91 percent lower to trade at 7,663.26 points.

Meanwhile, Xinhua said, the ChiNext index, which tracks company stocks, was developing on China's NASDAQ-style board, easing 0.97 percent to trade at 1,328.06 points.

While Seoul stock markets opened lower in Monday morning trade, the Korea Composite Stock Price Index (KOSPI) fell 21.54 points, or 1.04 percent, to 2,054.22 points in the first 15 minutes of trading.

The South Korean currency was quoted at 1,125.4 won against the US dollar, down 5.6 won from the close last weekend.

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