Letter No. 15.911, Rupiah Weakening Trend Predicted to Continue

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Erlina Fury Santika 22/11/2024 19:40 WIB

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Data from the Jisdor BI shows the US dollar exchange rate against the rupiah reached 15,911 on Friday, November 22, 2024. Further weakening is predicted.

US Dollar Exchange Rate against Indonesian Rupiah (November 22, 2023 - November 22, 2024)

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Letter No. 15.911, Rupiah Weakening Trend Predicted to Continue

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US Dollar Exchange Rate against Indonesian Rupiah (November 22, 2023 - November 22, 2024)

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According to Bank Indonesia's (BI) Jakarta Interbank Spot Dollar Rate (JISDOR) data, the US dollar exchange rate against the Indonesian Rupiah was recorded at Rp15,911 on Friday, November 22, 2024.

This figure strengthened by 0.19% from the previous day, Thursday, November 21, 2024, which was Rp15,942. Thursday's rate was the highest in a week.

The US dollar exchange rate against the Rupiah is actually "worrying" as it is approaching the 16,000 level this week.

Compared to two weeks ago, specifically Monday, November 11, 2024, the Rupiah exchange rate was still at the 15,677 level.

Citing *Katadata*, several analysts project that the Rupiah will continue to weaken against the US dollar. This is due to the rise in the US dollar index as many investors are opting for safer assets.

Money market observer, Ariston Tjendra, said that the US dollar index is currently strengthening to its highest level in 13 months.

"This morning, the US dollar is in the range of 107.02, versus 106.58 yesterday morning," Ariston told *Katadata* on Friday, November 22, 2024.

He explained that the tension between Ukraine and Russia is currently escalating as both countries are launching long-range missiles. Ariston believes that the escalating Ukraine-Russia conflict is increasing market concerns.

"This is prompting the market to enter safe assets, including the US dollar. We see the price of gold, which is also a safe asset, also rising," said Ariston.

Ariston stated that the weekly US jobless claims data showed a decline and boosted the US dollar's strength. He added that good employment data could prompt the US Federal Reserve to refrain from further lowering its benchmark interest rate.

(Read *Katadata*: [Investors Seek Safe Assets, Rupiah Could Break Rp 16,000 per US Dollar](https://katadata.co.id/finansial/makro/673fefaba2516/investor-cari-aset-aman-rupiah-berpeluang-tembus-rp-16-ribu-per-dolar-as))

Editor : Erlina Fury Santika

"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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Letter No. 15.911, Rupiah Weakening Trend Predicted to Continue

Letter No. 15.911, Rupiah Weakening Trend Predicted to Continue

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Letter No. 15.911, Rupiah Weakening Trend Predicted to Continue

Letter No. 15.911, Rupiah Weakening Trend Predicted to Continue

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