Muhammad Amru Syifa of the Research and Development department at the\nIndonesia Commodity & Derivatives Exchange (ICDX) stated that the\nmovement of the rupiah exchange rate today is being influenced by\ndevelopments in US monetary policy.<\/p>\n
\u201cThe movement of the rupiah at this time is still influenced by the\ndevelopments in US monetary policy and global market conditions,\u201d he\ntold ANTARA in Jakarta on Thursday.<\/p>\n
The rupiah exchange rate against the US dollar at the opening of\ntrading on Thursday weakened by 43 points, or 0.24 per cent, to Rp17,739\nper US dollar, compared to the previous close of Rp17,696 per US\ndollar.<\/p>\n
On Wednesday (16\/9), the Federal Reserve (The Fed) raised the\nbenchmark interest rate by 25 basis points to 3.75-4.00 per cent amidst\nUS inflation remaining above target. This decision is seen as providing\nsupport for the US dollar and maintaining US Treasury yields at high\nlevels, thereby limiting the potential for rupiah appreciation.<\/p>\n
On the other hand, Amru continued, the decline in oil prices\nfollowing the easing of supply concerns has provided some room for\nregional currencies to move more stably.<\/p>\n
Regarding domestic sentiment, market attention is said to remain\nfocused on fiscal conditions and financial market stability,\nparticularly the government\u2019s ability to maintain the credibility of the\nState Budget (APBN) amidst external pressures.<\/p>\n
The movement of the rupiah is also reflected in the JISDOR rate,\nwhich on Wednesday (16\/9) stood at Rp17,712 per US dollar, up from\nRp17,687 on the previous day.<\/p>\n
\u201cUnder these conditions, the rupiah has the potential to move\nvolatilely and remains under pressure in the short term, within a range\nof Rp17,650 - Rp17,800 per US dollar. Subsequent movements will be\ninfluenced by the direction of the Fed\u2019s policy, developments in US\nTreasury yields, and sentiment regarding domestic fiscal conditions,\u201d he\nrevealed.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/rupiah-movement-on-thursday-influenced-by-us-monetary-policy-developments-1789621420", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }