TEMPO.CO, Jakarta – Exchange rate or exchange rate rupiah interbank transactions in Jakarta earlier this week weakened due to the impact of the conflict between Russia and Ukraine.
The rupiah weakened 28 points or 0.2 percent to a position of Rp. 14,415 per month dollar AS compared to the position at the close of the previous trade of Rp. 14,387 per US dollar.
“This morning the rupiah seems to be under significant pressure due to the effect of the strengthening of the US dollar. The effect of the strengthening of the US dollar is due to geopolitical problems from Ukraine and Russia,” said Indonesia Commodity and Derivatives Exchange (ICDX) analyst Nikolas Prasetia when contacted in Jakarta, Monday, March 7, 2022.
According to Nikolas, the geopolitical effect also had an impact on almost all global commodities, which experienced sharp price increases at the beginning of this week’s trading session.
“For this week, it is necessary to pay attention to the geopolitical developments of Ukraine-Russia, coupled with a number of US data that can move the value of the US dollar and lead to the movement of the rupiah,” said Nikolas.
Fighting escalated over the past weekend and truce efforts to allow civilians to flee the besieged city of Mariupol appear to have failed so far.
Russia called the military operation launched on February 24, 2022 a “special military operation” and said it had no plans to occupy Ukraine.
Earlier this week, the rupiah was estimated to move in the range of Rp. 14,430 per US dollar to Rp. 14,470 per US dollar.
On Friday, March 4, 2022, the rupiah closed 7 points higher or 0.05 percent to Rp. 14.87 per US dollar compared to the position at the close of the previous trade of Rp. 14,394 per US dollar.
Also Read: Rupiah Closed Stronger to IDR 14,386 per US Dollar This Afternoon
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