Indonesia's Benchmark Stock Index and Rupiah Continue Decline
Indonesia's main stock index (IHSG) continued its weakening trend this week. The index fell 0.93 percent to 4,674.12 on Thursday (25/07). This downward movement today was in line with most other Asian stock indices. All sectoral indices of the IHSG weakened, except for the miscellaneous industry. Indonesian blue chips, in particular, were under pressure. Unilever Indonesia fell 3.38 percent and Bank Mandiri lost 3.37 percent. Trade was relatively quiet with value of transactions at IDR 4.5 trillion (USD $441.2 million).
The Indonesian IDR rupiah continued its weakening movement. Today (25/07), it fell to 10,263 per US dollar. Agus Martowardojo, governor of Indonesia's central bank, told people not to worry because the weakening of the currency is in line with the country's economic fundamentals. Moreover, most regional currencies are weakening against the US dollar.
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