Keep Rupiah Weakens

Written By JSap on Jumat, 23 September 2011 | 02.13

Euro exchange rate rose briefly on Friday morning, 23 September 2011, after the emergency declaration G20 to tackle the crisis in the eurozone. Unfortunately global recession makes the stakes in Asia's worst loss since November 2008.

Finance ministers and leaders of the G20 central banks will respond and coordinate to face the new challenges of the global economy. They also noted a decreased risk of increasingly severe credit squeeze, the vulnerability of financial systems, market turbulence, the weak economic growth, and high rates of unemployment that can not be accepted.

As quoted by Reuters on Friday, September 23, 2011, warning of risk of economic decline also came after an awful estimates from the U.S. Federal Reserve. These conditions encourage the world's stock plummeted in the past 13 months ternedah.

The dollar and yen fell sharply after U.S. stock indexes plummeted overnight. Office of the Japanese news service, Jiji, on Friday reported that the G20 is preparing an emergency statement to confirm cooperation to overcome the debt crisis in the eurozone.

This news makes the euro exchange rate against the dollar this morning rose 0.7 percent to U.S. $ 1.3561. The euro also strengthened against the yen, after falling as low during the last 10 years.

However, the rupiah against the U.S. dollar this morning fell to a level Rp9.240 per U.S. dollar. Yesterday afternoon, the rupiah was trading at Rp8.720. The exchange rate is down sharply from earlier this month that trading at levels Rp8.533.

Meanwhile, South Korean won strengthened against the dollar, following a warning governments and central banks to sell dollars.
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