The Indonesian rupiah is also weakening as market participants are expecting accelerated inflation in November after the government raised subsidized fuel prices by more than 30 percent on Tuesday (18/11). On Monday (1/12), Statistics Indonesia will release Indonesia’s official November inflation figure.

Meanwhile, the euro is losing ground to the US dollar as Europe’s economic data are not good, fuelling expectation about further monetary stimulus from the ECB.

Bank Indonesia's benchmark rupiah rate (Jakarta Interbank Spot Dollar Rate, abbreviated JISDOR) depreciated 0.14 percent to IDR 12,196 per US dollar on Friday (28/11).

Indonesian Rupiah versus US Dollar (JISDOR):

| Source: Bank Indonesia