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RUPIAH - JAKARTA. The exchange rate of the rupiah weakened against the United States dollar (US) today. On Wednesday (20/3), the spot rupiah rate weakened by 0.03% to Rp 15,723 per US dollar from the closing trade yesterday at Rp 15,718 per US dollar.
The rupiah tends to move thinly this week ahead of the awaited Federal Reserve meeting. Meanwhile, Bank Indonesia (BI) maintains the BI Rate at the 6% level today.
"The stability of the rupiah is maintained. Furthermore, the rupiah is expected to be stable with a tendency to strengthen supported by BI's stabilization steps," said BI Governor Perry Warjiyo after the BI governor's meeting today.
The Fed will announce the interest rate at midnight tonight. Market players predict The Fed will hold the interest rate. What is more awaited is the statement of The Fed Chairman Jerome Powell regarding the direction of the next interest rate.
Read Also: IDX Composite (IHSG) Closed Down 0.08% to 7,331 on Wednesday (20/3)
Not only the rupiah, the majority of Asian currencies today weakened against the greenback. Only the Korean won and the Hong Kong dollar strengthened slightly by 0.04% and 0.01% respectively against the US dollar.
Meanwhile, the dollar index reflecting the exchange rate of the US dollar against the world's major currencies strengthened to 103.9 today from yesterday's position of 103.82. The dollar index has strengthened in the last four trading days since last Friday (15/3).
