Indonesian Rupiah Gains Ground Against USD at Week's End
Executive Summary
Key insights and market outlook
The Indonesian rupiah strengthened slightly against the US dollar on Friday, closing at Rp16,690 per USD, representing a 0.07% gain from the previous day's Rp16,701 per USD. For the week, rupiah depreciated 0.35% from Rp16,631 per USD at the previous week's end. Economic analyst Ibrahim Assuaibi attributes rupiah's movement to external factors, particularly the ongoing US government shutdown now entering its second month.
Deep Dive Analysis
Indonesian Rupiah Shows Week-End Strength Against USD
Currency Performance Analysis
The Indonesian rupiah demonstrated a slight strengthening against the US dollar on Friday, closing at Rp16,690 per USD. This represented a 0.07% appreciation from the previous day's closing rate of Rp16,701 per USD. However, on a weekly basis, the rupiah depreciated by 0.35% compared to the previous week's closing rate of Rp16,631 per USD.
Market Dynamics and Influencing Factors
Economic analyst Ibrahim Assuaibi noted that the rupiah's movement continues to be influenced by external factors, particularly the ongoing US government shutdown that has now entered its second month. The prolonged shutdown is creating significant global economic uncertainty, affecting emerging markets like Indonesia.
Technical Performance
The Jakarta Interbank Spot Dollar Rate (Jisdor) also followed a similar pattern, closing at Rp16,704 per USD, representing a 0.017% gain from the previous day's Rp16,707 per USD. This parallel movement between the spot rate and Jisdor indicates consistent market sentiment towards the rupiah.
Source References
Story Info
Topics Covered
Key Events
Rupiah Currency Fluctuation
US Government Shutdown Impact