TEMPO.CO, Jakarta - The rupiah strengthened against the US dollar on Friday, after the United States’ Initial Jobless Claims rose more than expected. The rupiah closed stronger 0.42 percent on Friday at Rp16,196 against the US dollar. "US Initial Jobless Claims data rose higher than expected for the ending week of May 31, 2024," said Bank Permata Chief Economist Josua Pardede to Antara in Jakarta on Friday, June 7, 2024.Initial Jobless Claims rose to 229,000 from 221,000 in the previous week, hinting at a looser US labor market.Investors are likely to wait...
TEMPO.CO, Jakarta - Bank Indonesia (BI) is confident that the rupiah exchange rate against the US dollar will soon strengthen away from the Rp16,000 mark amid ongoing global turmoil. The central bank predicts that the rupiah will be stronger next year, trading between Rp15,300 and Rp15,700 per dollar.BI Governor Perry Warjiyo said the rupiah had weakened by 5.25 percent in April-May 2024 compared to the end of 2023."(But) it is still better than the Philippine peso, the Korean won and the Thai baht. For next year, we estimate the range will...