The weak rupiah and higher interest rates will interfere with the performance of companies that have exposure costs in US dollars. Similarly, rising interest rates for credit cards added to negative market sentiments. Indonesia's main index fell 1.03 percent to 4,718.10 on Wednesday (24/07).

The Indonesian rupiah continued its fall against the US dollar in line with other currencies that followed the weakening trend. The Australian dollar fell due to lower than expected inflation. China's yuan weakened after the HSBC manufacturing PMI contracted and indicates slowing growth of China's economy. Indonesia's central bank has not announced any plans yet that aim to support the rupiah and this makes investors believe that the bank will let the rupiah weaken further.

| Source: Bank Indonesia