JAKARTA - The exchange rate of the Rupiah (IDR) in the spot market was at the level of IDR 16,760 per US dollar during midday trading on Thursday (3/4), weakening compared to yesterday (2/4). The depreciation of the IDR occurred after Donald J. Trump, President of the United States (US), implemented reciprocal tariffs effective Wednesday (2/4) US time.

The Rupiah currency was at the level of IDR 16,769/US$ during midday trading, weakening by 0.33% from the previous day's closing rate of IDR 16,713 per US$.

Data from Bank Indonesia (BI) recorded that the transaction exchange rate of the Rupiah against the US$ declined over the past week. The Rupiah was at IDR 16,392 per US$ on (14/3), weakening to IDR 16,566 per US$ on (27/3).

According to various online media sources, the exchange rates of other Asian currencies were also reported to weaken against the US$, including the Chinese Yuan, South Korean Won, Malaysian Ringgit, Indian Rupee, Thai Baht, and Hong Kong Dollar.

The weakening of these currencies was a response to the implementation of US reciprocal tariffs with a lower limit of 10% on several trading partner countries. China and the European Union topped the list of reciprocal tariff policies with rates of 34% and 20%, respectively. Additionally, Indonesia was included in the list of reciprocal tariffs on several US-imported products. (LK/LM)