Rupiah Closes Weaker at 17,000 on Monday, March 30

The rupiah exchange rate closed weaker on Monday (30/3) by 22 points or 0.13% to 17,002 per US dollar from the previous close at 16,980 per US dollar.

Currency and commodity analyst Ibrahim Assuaibi stated that this weakening was triggered by the escalation of the Iran war following the Houthi group opening a new front in the conflict.

“The market remains vigilant against the potential escalation of the Iran war after the Yemen-based Houthi group attacked Israel over the weekend. The Houthi group could open a new front in the war, given their capability to launch attacks in the Red Sea,” he said in a written statement in Jakarta on Monday.

Quoting Sputnik, Yemen’s Ansar Allah Movement or Houthi attacked Israel with missiles for the second time in a day and will continue attacks until Israel stops its assaults on Iran and Lebanon.

As reported by Anadolu, Yemen’s Houthi leader Abdul-Malik al-Houthi stated that his group would support Iran against US-Israel aggression and is prepared for any developments in the ongoing confrontation. (Ant/I-2)

He explained that the war between the US and Iran has reduced global oil supplies by 11 million barrels per day.

He elaborated that the depreciation of the rupiah against the US dollar since the Israel-US versus Iran war has been recorded at 0.3%.