Spot Rupiah Closed Stronger 0.25% to Rp 16,179 Per US Dollar Today (18/4)

RUPIAH - JAKARTA. The rupiah's exchange rate in the spot market finally ended its depreciation. On Thursday (18/4), the spot rupiah closed at a level of Rp 16,179 per US dollar.

This resulted in the spot rupiah strengthening by 0.25% compared to the previous day's close at Rp 16,220 per US dollar. 

The rupiah's movement is in line with the majority of currencies in the region. Where, the South Korean won became the currency with the largest strengthening after strengthening by more than 1% on this day.

Next, the Philippine peso was seen strengthening by 0.3%. Followed by the Malaysian ringgit and Singapore dollar, which strengthened by 0.3% and 0.1% respectively.

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The strengthening of currencies in Asia is supported by comments from the first trilateral financial dialogue held by the US, Japan, and South Korea on Wednesday, with the three allies agreeing to "closely consult" on foreign exchange markets.

Emerging markets have been hit this week, with a number of currencies still near their lowest levels in several months, after global investors readjusted speculation about the timing of monetary policy easing from the Federal Reserve.