Rupiah Weakens as US-China Trade Talks Remain Halted
- ANTARA
Jakarta, VoxPop – The Indonesian rupiah weakened against the US dollar in the spot market on Monday, April 28.
The rupiah dropped by 27 points or 0.16 percent to a position of IDR 16,856 per US dollar.
Based on the latest Jakarta Interbank Spot Dollar Rate (JISDOR) reference rate as of Friday afternoon, the rupiah had closed at IDR 16,829 per US dollar.
Currency market analyst Ariston Tjendra predicted that the rupiah would weaken today against the US dollar.
He said the pressure on the rupiah was mainly driven by the ongoing negotiations between China and the United States.
Ilustrasi Uang Rupiah
- pixabay.com/WonderfulBali
"The rupiah still seems to be under pressure from the US dollar. News that the negotiations between the US and China have yet to make progress — despite President Trump’s statements suggesting otherwise — is fueling renewed concerns in the financial markets," Tjendra said on Monday (Apr 28).
He explained that the market is still waiting for developments in the US tariff negotiations, which so far have not shown any concrete results.
"The market is still waiting for progress in the US tariff negotiations, even though the US has begun to show a slightly softer stance," he said.
For today, the rupiah is expected to weaken further toward IDR 16,880, with support likely at around IDR 16,800.
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