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The Indonesian Rupiah strengthened due to discussions of a dialogue between China and the US, the expectation of a Federal Reserve interest rate cut, and government and Bank Indonesia interventions in response to the global economy.
The Rupiah exchange rate against the US dollar strengthened by 0.37% to Rp 14,185 on Friday (August 30th). Over the week, the Rupiah strengthened by 0.19%.
Analyst Ibrahim from PT Garuda Berjangka stated that the strengthening of the Rupiah against the dollar was supported by positive sentiment surrounding the planned dialogue between the US and China in Washington at the beginning of September. Another supporting factor is the expectation that the US Federal Reserve (The Fed) will lower its benchmark interest rate on September 18th. This policy is intended to support the US economy in the face of trade war risks.
Rupiah movements were also influenced by internal sentiment. The collaboration between the government and Bank Indonesia (BI), which continued to intervene this week, successfully boosted the positive trajectory of the Rupiah.
(See Databoks: [Weakening Yuan Impacts Rupiah and Other Asian Currencies])
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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