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Rupiah Enters the 15,000 per US Dollar Zone, Predicted to Continue Strengthening
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Based on data from Bank Indonesia's (BI) Jakarta Interbank Spot Dollar Rate (JISDOR), the Indonesian Rupiah (IDR) exchange rate against the United States dollar (USD) was recorded at Rp15,914 on Friday (August 9, 2024).
This value represents a slight strengthening of 0.23% from the previous reference rate of Rp15,952 per USD on Thursday (August 8, 2024).
The exchange rate over the past two days signals a positive trend, considering the Rupiah's continuous weakening to the 16,000 level from April 16, 2024, to August 7, 2024, as shown in the graph.
Citing *Katadata*, several economists project that the Rupiah's exchange rate will continue its strengthening this weekend.
"The Rupiah is likely to continue its appreciation to the Rp15,808 to Rp15,928 per USD level," said Fikri C Permana, Senior Economist at KB Valbury Sekuritas, to *Katadata* on Friday (August 9, 2024).
Fikri explained that today's strengthening of the Rupiah's exchange rate will be influenced by several sentiments. Some of these include the still-wide SUN10Y-UST10Y yield spread, Indonesia's relatively stable political developments, and the still-volatile geopolitical sentiment.
Echoing Fikri's sentiment, Ariston Tjendra, a money market observer, also projects that the Rupiah could strengthen further against the USD today.
"This is due to the market's continued expectation of a cut in the US benchmark interest rate," said Ariston.
(Read *Katadata*: [Rupiah Berpotensi Lanjutkan Penguatan, Bisa Sentuh Rp 15.800 per Dolar AS](https://katadata.co.id/finansial/makro/66b5809821d02/rupiah-berpotensi-lanjutkan-penguatan-bisa-sentuh-rp-15800-per-dolar-as))
"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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