JAKARTA – The rupiah exchange rate during trading on Monday, October 14, 2024 is expected to weaken against the US dollar.
Financial and commodity market observer Ariston Tjendra said the US dollar index appeared to have risen above the 103 level again, although last weekend it was still in the 102 range, 90 years old.
“This strengthening of the US dollar could be attributed to the release of US inflation data last September which showed that US inflation conditions are still difficult to come down, thus aligning expectations of a large continued reduction,” he told VOI, Monday, October 14.
In addition, Ariston said the still-warm conditions in the Middle East also encouraged market participants to position themselves in safe assets such as gold and the US dollar.
According to Ariston this week, the market is waiting for the truth of the rumors of additional encouragement from China. This additional stimulus policy from China could give positive sentiment to risk assets including the Rs.
In addition, the market is also awaiting US economic growth from US manufacturing and retail data to be released to confirm the direction of US monetary policy going forward.
Ariston believes that the rupiah’s movement on Monday, October 14 may weaken against the US dollar towards IDR 15,650 with potential support in the IDR 15,550 range.
Citing Bloomberg, the rupiah exchange rate on Friday, October 11, 2024, the rupiah rate at the point increased by 0.64% to the level of IDR 15,578 per US dollar. Meanwhile, the Jakarta Interbank spot dollar rupee rate (Jisdor) Bank Indonesia (BI) closed to strengthen by 0.30 percent at the price level of IDR 15,609 per US dollar.
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