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Bisnis.comJAKARTA – Rupiah exchange rate Today it is predicted to continue weakening after being corrected in yesterday’s trading. Sentiment from abroad will be quite strong in influencing the rate of the rupiah.
Forexindo Futures Profit Director Ibrahim Assuaibi said the rupiah currency today is predicted to fluctuate but has the potential to weaken in the range of IDR 15,620- IDR 15,690 per dollar AS.
Strong sentiment from abroad still comes from the monetary policy of the US Federal Reserve. According to Ibrahim, although The Fed has made some progress in fighting inflation, but US inflation is still far above the 2% target which has the potential for the Fed to raise the benchmark interest rate again.
“On the other hand, China’s trade data is still sluggish, with exports shrinking more than expected in October 2023. Meanwhile, the country’s trade surplus narrowed to its weakest level in 17 months,” he explained in research, quoted on Wednesday (8/11/2023) .
Despite China’s unexpected increase in imports, the weakening of exports signals the continued decline of China’s largest economic engine, namely its exporters. Much of the decline was caused by worsening demand in China’s largest export destinations in the West.
“Weakness in China bodes ill for broader Asian markets, which rely on the country as a trading hub. China’s inflation data will be released later this week, and is expected to provide more clues to the Asian giant,” said Ibrahim
Domestically, Indonesia’s economic growth in the third quarter of 2023 reached 4.94% year-on-year (yoy). According to him, this is very different from the government and economists’ predictions of 5.17%. However, Indonesia’s economic growth is growing higher than several countries in the world.
This is supported by solid domestic demand which is reflected in household consumption and strong domestic consumption. The consumer confidence index will still be at 121.7 in November 2023.
Then, in terms of expenditure, household consumption is the highest contributor at 52.62% to economic growth in the third quarter of 2023. Meanwhile, Gross Fixed Capital Formation (PMTB) contributed 29.68%.
Check out today’s rupiah exchange rate movements live.
12:29 WIB
The Rupiah weakened by IDR 15,641
The Rupiah weakened 0.03% or 5 points to IDR 15,641 per US dollar at 12.15 WIB.
At the same time, the US dollar index rose 0.07% or 0.07 points to 105.62.
10:21 WIB
The Rupiah strengthened IDR 15,617
The Rupiah strengthened 0.12% or 18.50 points to IDR 15,617.50 per US dollar at 10.17 WIB.
On the other hand, the US dollar index rose 0.03% or 0.03% points to 105.57.
09:03 WIB
Rupiah opened strong
The Rupiah opened up 0.07% or 11 points to IDR 15,625.00 per US dollar at the start of trading today.
The US dollar index, which measures the strength of the greenback, rose 0.06% or 0.07 points to 105.61.
2023-11-08 05:32:13
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