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Bisnis.comJakarta – The Rupiah Token exchange rate is against the United States (US) dollar, it is expected to change but close higher in the range of 15,500 – IDR 15,580 in today’s trade, Wednesday (23/10/2024). The movement of the rupiah was overshadowed by the sentiment of the Fed cutting interest rates to the Prabowo-Gibran government’s economic growth target of 8%.
In trading on Tuesday (22/10), the rupiah closed down 63.50 points or 0.41% to Rp 15,567 per US dollar until the market closed. Meanwhile, the dollar index also fell 0.15% to 103.85.
PT Laba Forexindo Director Berjangka Ibrahim Assuaibi said a series of positive economic data led investors to lower expectations about the size and pace of cuts interest rate from the Fed.
“The market estimates an 87% chance of a 25 basis point cut at the Fed meeting in November 2024, with a 13% chance that the central bank will keep interest rates steady,” he said, Tuesday (22/ 10/2024).
Investors, Ibrahim said, are also positioning themselves as the US general election on November 5 draws closer. In terms of winning Trump possibly including tariffs that would affect trading partners, such as Canada, Mexico and China.
From within, President Subianto game he promised to pursue 8% economic growth until Indonesia gets out of it middle income trap. However, Ibrahim believes that this economic growth target is not easy.
“The work to achieve the economic growth target is also an achievement game for the ‘jumbo’ team of the Red and White Cabinet. “Furthermore, some ministers do not come from professional circles, but also from political parties,” he said.
Of the 48 ministers appointed, 24 ministers came from political parties. Of the 56 deputy ministers, 18 of them come from political parties.
In addition, coming to the end of 2024, the risk of global financial market uncertainty will increase again due to geopolitical tensions between Israel, Hamas and Hezbollah, including a conflict between Israel. Israel with Iran.
According to these sentiments, Ibrahim predicts that in today’s trade, Wednesday (23/10/2024), the rupiah will fluctuate, but will close higher at IDR 15,500 – IDR 15,580.
15:11 WIB
The rupiah closed lower
The Rupiah closed down 0.38% or 59.5 points to Rp 15,626.5 per dollar.
Meanwhile, the US dollar index was seen to have strengthened by 0.23% to 104.32.
14:25 WIB
The Rupiah remains under pressure ahead of the shutdown
At 14.25 WIB, the rupiah weakened 0.44% or 68.5 points to IDR 15,635.5 per US dollar.
Meanwhile, the US dollar index was seen to have strengthened 0.24% to 104.32.
12:13 WIB
The Rupiah remains under pressure
At 12.13 WIB, the rupiah weakened 0.35% or 55 points to Rp 15,622 per dollar.
Meanwhile, the US dollar index was seen to have strengthened 0.07% to 104.15.
09:08 WIB
Rupiah opened red
The Rupiah weakened 0.32% or 50.5 points to Rp 15,617.5 per US dollar at 09.08 WIB.
Meanwhile, the US dollar index was seen to have strengthened 0.09% to 104.17.
2024-10-23 08:11:00
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