10 May 2022 (closed)
Jakarta Composite Index (6,819.79) -89.96 -1.30%
USD/IDR (14,146) -6.00 -0.04%
EUR/IDR (17,335) +57.05 +0.33%
The Indonesian rupiah exchange rate depreciated 0.14 percent to IDR 11,665 per US dollar on Tuesday (25/02) based on the Bloomberg Dollar Index. The currency's depreciation was due to US dollar demand from Indonesian importers while offshore funds engaged in profit taking as the rupiah is the best performer in February 2014 among 31 major currencies tracked by Bloomberg (against both the euro and US dollar). The rupiah is also the best-performing Asian currency this year so far.
However, the central bank's Jakarta Interbank Spot Dollar Rate (JISDOR) appreciated 0.92 percent to IDR 11,620 per US dollar on Tuesday (25/02) as it still had to absorb the positive effects of the recent rally in Asian stocks. This rally fuels optimism that capital inflows into the region, including Indonesia, are increasing.
However, Asian stock markets were mixed on Tuesday (25/02) as investors are waiting for the release of important US macroeconomic data (including GDP growth, consumer confidence, durable goods orders and initial jobless claims) to assess the current state of the US economy.
Indonesia's benchmark index (Jakarta Composite Index or IHSG) weakened 1.00 percent to 4,577.29 points amid profit taking. All sectoral indices were corrected during today's trading day, led by the finance sector (-1.63 percent) and infrastructure (-1.40 percent).