The Rupiah weakened back to Rp14,929 today against the US dollar as the greenback is getting stronger, a day after the Federal Reserve raised rates and hinted at a fourth rate hike in December.
The rupiah has continued to lean against depreciatory pressures, while mitigating volatility. However rupiah depreciation is in line with the currencies of peer countries, spurred by broad US dollar appreciation.
Therefore, the Rupiah depreciated by an average of 1.05% in August 2018. Year-to-date (ytd), therefore, the Rupiah has lost 8.97% in value against the US dollar as of 26th September 2018, faring better, however, than the Indian rupee, South African rand, Brazilian real and Turkish lira.
