Efforts to Convert Export Earnings into Rupiah
The rupiah has plunged even deeper. In addition to negative sentiment from external factors as the main cause behind the fall, domestic factors also play a part in the sharp depreciation of the Indonesian currency.
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A display monitor at the Indonesia Stock Exchange (IDX) in Jakarta shows stock prices on Tuesday (4/9/2018). The Jakarta Composite Index (JCI) continues to fall as the rupiah depreciates under pressure from the US dollar, weakening 1.04 percent, or down 62.28 points, at the close of trading on Tuesday to 5,905.30.
JAKARTA, KOMPAS — The rupiah has plunged even deeper. In addition to negative sentiment from external factors as the main cause behind the fall, domestic factors also play a part in the sharp depreciation of the Indonesian currency.
Currently, there are many business players who are still reluctant to convert their US dollars into rupiah. Many businesspeople also seek to use US dollars to pay for their imports.