Rupiah Climbs Up; Trades for 16,025 per US Dollar
The Rupiah gained 57 points, closing the trade at Rp16.025 per US Dollar.
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The Rupiah gained 57 points, closing the trade at Rp16.025 per US Dollar.
Finance Minister Sri Mulyani Indrawati said the rupiah exchange rate depreciated by 2.89 percent year-to-date (ytd) in the first quarter of this year.
The rupiah closed weak at Rp16,187 per US dollar on Thursday.
Bank Indonesia has finally raised its benchmark interest rate to 6.25 percent.
Bank Indonesia (BI) ensures rupiah stability in anticipation of the impacts of global uncertainty.
In early Wednesday morning trade, the rupiah slipped 76 points or 0.47 percent to Rp16,252 per US dollar.
Money market observer Ariston Tjendra believes the rupiah will potentially weaken against the US dollar on the first working day after the Eid holiday
The depreciating trend of the rupiah against the US dollar persisted in the recent week.
Apindo Chairperson Shinta Kamdani urged Bank Indonesia to take steps to prevent further deterioration of the Rupiah exchange rate.
Commodity and currency observer Lukman Leong believes that the depreciation of the rupiah exchange rate will impact the increase in import prices.
There is a foolproof way to distinguish real rupiah from counterfeit one called 3D (Dilihat, Diraba, Diterawang). Check here for the details.
Indonesia's inflation rate in March 2024 was recorded at 0.52 percent month-on-month (m-o-m) or 3.05 percent year-on-year (y-o-y).
The rupiah exchange rate against the US dollar will fluctuate today.
Bank Indonesia Maintains 6 Percent Benchmark Interest Rate, Rupiah Closes Stronger
The rupiah closed 95 points higher to trade for 15,635 per US dollar on Wednesday, February 7.
The rupiah closed 15 points up to trade for 15,810 per US dollar on Monday's trade, January 29.
The rupiah's exchange rate is expected to fluctuate against the US dollar throughout this year this year.
The rupiah closed up by 18 points to trade for 15,399 per US dollar at the close of this year's trade on Friday, December 24, 2023.
Bank Indonesia Governor Perry Warjoyo reported that the Rupiah exchange rate over the US Dollar continues to show an upward trend.
The aim of the construction of the Sovereign Rupiah Monument by Bank Indonesia is to develop a sense of nationalism among local communities.