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Bisnis.comJakarta – The Rupiah Token exchange rate is against the US dollar it is expected to fluctuate but close higher in the range of IDR 15,070-IDR 15,180 in trade at the beginning of the week today, Monday (23/9/2024).
At the end of trading on Friday (20/9), the rupiah strengthened 0.58% or 89 points to Rp 15,150 per US dollar. At the same time, dollar index It was seen rising 0.09% to 100.7.
The director of PT Laba Forexindo Berjangka, Ibrahim Assuaibi, said that in trading last weekend, the rupiah moved between several emotions. from abroad, The Fed kicking off an easing cycle that could see interest rates fall by as much as 125 basis points this year.
The Fed cut interest rates by 50 basis points, at the high end of market expectations. But Deer Chair Powell offered a less serious view interest rate medium to long term, suggesting that neutral interest rates will be much higher than previously seen. At the same time, traders welcomed the rate of sharp reduction in interest rates in the near future.
From within the country, referring to the Fed’s aggressiveness in reducing its benchmark interest rate by 125 basis points this year, then Bank of Indonesia (BI) as well as cut interest rates between 75 – 100 basis points in the range of 5.25%-5.00%. The aim of cutting the benchmark interest rate is to revive the wheels of the economy which was previously sluggish due to the high interest rates of bank credit.
On the other hand, a downward trend in the benchmark BI interest rate is expected to support economic growth to remain strong, especially for the banking industry.
The easing of BI’s monetary policy is expected to trigger a reduction in the cost of money, which will trigger a reduction in credit interest rates.
“The objective is to increase the demand for credit so that the economy can recover and improve during the transition period of the government,” Ibrahim said in a written statement last weekend, Friday (20/9/2024).
Then, Indonesia’s trade balance remains stable and foreign exchange reserves continue to increase. In August 2024, inflation overall down slightly to 2.12% annually (year on year / yoy), down from 2.13% yoy in July 2024. At the same time, this inflation rate remains within the BI target range of 1.5% to 3.5%
Ibrahim projects that the rupiah currency will fluctuate for trading this week, Monday (23/9/2024), but it will close stronger in the range of IDR 15,070 – IDR 15,180.
15:03 WIB
The Rupiah closed down 0.37% to IDR 15,205.50
The Rupiah closed down 0.37% or 55.50 points to Rp.
Meanwhile, the US dollar index strengthened 0.41% to 101.13.
13:38 WIB
The Rupiah was weakened to IDR 15,210
The Rupiah corrected 0.40% or 60 points to Rp 15,210 per US dollar at 13.38 WIB.
Meanwhile, the US dollar index strengthened 0.05% to 100.78.
12:01 WIB
The Rupiah is increasingly under pressure
The Rupiah came under additional pressure, weakening 47 points or 0.31% to Rp 15,197 per US dollar at 12.01 WIB.
Meanwhile, the US dollar index strengthened 0.03% to 100.76.
10:42 WIB
The Rupiah weakened 0.20% to IDR 15,181
At 10.42 WIB, the rupiah weakened 31 points or 0.20% to Rp 15,181 per US dollar.
Meanwhile, the US dollar index strengthened 0.05% to 100.77.
09:05 WIB
The rupiah opened slightly higher by 0.02% to IDR 15,125
The Rupiah strengthened 2.5 points or 0.02% to IDR 15,125 per US dollar at 09.05 WIB.
Meanwhile, the US dollar index also strengthened 0.07% to 100.80.
2024-09-23 06:38:48
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