Jakarta –
Exchange rates United States dollar (US) against the rupiah continued to rise. As of this afternoon at 12.05 WIB, citing RTI data, Monday (20/6/2022), the US dollar exchange rate was recorded to have moved in the range of Rp. 14,788-14,904.
Throughout the day, the US dollar has been observed to have risen 86 points or 0.58% perched at the level of Rp. 14,871. Compared to the past week, the US dollar was recorded to have strengthened even higher by 1.3%.
The total increase in the US dollar exchange rate against the rupiah from the beginning of this year was recorded at 4.28%. Uncle Sam’s currency moved in the range of Rp. 14,189-14,904. This means that in less than six months, the US dollar exchange rate has been observed to have increased by 715 points.
Despite strengthening against the rupiah, dollar AS this afternoon was observed to be depressed by the majority of other currencies. The Australian dollar, Chinese yuan and the euro weighed heavily on the US dollar so far.
Meanwhile, the rupiah was subdued against all currencies this afternoon. The rupiah was observed to be under the most pressure from the Chinese yuan, Australian dollar and euro.
The strength of the US dollar itself has been predicted since last week. The US dollar was strong against the rupiah because the US central bank or the Fed raised the benchmark interest rate by 0.75% to 1.5-1.75%. The Fed raised its benchmark interest rate in order to suppress soaring inflation in the country.
High inflation is caused by the war between Russia and Ukraine, which until now there is no certainty that it will stop.
Commodity analyst Ariston Tjendra added that the opportunity dollar AS reached the level of IDR 15,000 open this year. Even so, it is said that the weakening of the exchange rate will depend on the monetary policy of Bank Indonesia (BI) in response to the increase in the Fed’s interest rates and the government’s inflation control.
“If next week BI raises interest rates, at least it can contain the weakening so it doesn’t deepen further. So BI’s benchmark interest rate can offset the US benchmark interest rate,” said Ariston.
Watch Video: Ouch! Rupiah is getting worse, the US dollar is almost Rp. 15,000
(eds/ang)
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