The Indonesian rupiah rate weakened against the US dollar in March 2019. Bank Indonesia’s benchmark JISDOR rate finished the third month of the year at a position of IDR 14,244 per US dollar, down 1.29 percent compared to the level of IDR 14,062 per US dollar that was set at the last trading day of February 2019. Nevertheless, compared to the start of the year, the rupiah has remained in positive territory, having appreciated 1.64 percent against the US greenback in the first quarter of 2019.
Although movements in exchange rates depend on a wide range of factors (both domestic and external ones), ongoing Brexit turmoil seems to have had a big impact in March 2019; one that has supported the US dollar and therefore resulted in rupiah weakening.
This article discusses the following:
• The performance of the Indonesian rupiah in the month of March 2019
• The latest developments surrounding the Brexit (and its impact on the rupiah)
• The US Federal Reserve's monetary policy (and its impact on the rupiah)
Read the full article in the March 2019 edition of our monthly research report. You can purchase the report by sending an email to firstname.lastname@example.org or a WhatsApp message to the following number: +62(0)8788.410.6944
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