archiveRupiah

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...

TEMPO.CO, Jakarta - Senior Deputy Governor of Bank Indonesia (BI), Destry Damayanti, said Indonesia must be wary of the strengthening US dollar against other currencies, including the rupiah or what is known as DXY (US Dollar Index)."DXY continues to strengthen and on the other hand causes the Asian currencies, including the rupiah, to experience pressure. This is happening in almost all world currencies amidst the high for longer interest rates,” she said during her presentation while taking the fit and proper test as the candidate for Senior Deputy Governor of BI...

TEMPO.CO, Jakarta - Currencies reflect the stability of a country's economy and the attractiveness of its international markets. However, some are compelled to hold weak values due to volatile economic conditions.The high or low valuation of a currency is determined by its exchange rate against the global benchmark, the US dollar, which is the most highly valued and widely traded currency worldwide. Numerous factors, such as inflation, political stability, and dependence on certain economic sectors, influence currency exchange rates in each country.Therefore, countries with the weakest currencies are a major...