Tuesday, 15 October 2019 | 06:21 WIB

Rupiah Edges Down amid Concerns on Global Trade Wars

Rupiah Edges Down amid Concerns on Global Trade Wars (monex)

JAKARTA, NETRALNEWS.COM - Rupiah exchange rate at the Jakarta interbank level has weakened on Monday afternoon amid investor concerns regarding the certainty of a never-ending US-China trade war.

The rupiah edged down by 12 points or 0.08 percent to IDR 14,337 per US dollar from IDR 14,325 per dollar.

PT Garuda Berjangka President Director Ibrahim Assuaibi in Jakarta said on Monday that during the US-China trade war it was unclear what the impact was, there is now another US-India trade war.

"If the trade war continues and is even wider, it is guaranteed that the global economic slowdown is a necessity. Something that can make investors worried and reluctant to enter risky instruments in developing countries," Ibrahim said.

Meanwhile, ahead of a meeting of the US central bank, the Federal Reserve (Fed), officials can use to mark a decline in interest rates later this year as the outlook for global growth weakens amid rising trade tensions.

"While the US central bank is widely expected to refrain from cutting interest rates on Wednesday, some investors are betting that Fed Chair Jerome Powell can use the meeting to lay the groundwork for cuts later this year," Ibrahim said. 6/17/2019).

The morning rupiah opened up to IDR 14,336. Throughout the day, the rupiah moved in the range of IDR 14,336 to IDR 14,353 per dollar.

Meanwhile, Bank Indonesia's middle exchange rate on Monday showed that the rupiah weakened to IDR 14,346 per dollar compared to the previous day at IDR 14,304 per dollar.