Rupiah Continues to Weaken as IHSG Plunges (April 9, 2025)

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Adi Ahdiat 10/04/2025 11:19 WIB

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From the beginning of the year until April 9, 2025, the Indonesian Composite Stock Price Index (IHSG) has been on a downward trend. Concurrently, the Indonesian Rupiah has continued to weaken.

Movement of the Jakarta Composite Index (JCI) and the US Dollar Exchange Rate against the Rupiah (December 30, 2024 - April 9, 2025)

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Rupiah Continues to Weaken as IHSG Plunges (April 9, 2025)

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Movement of the Jakarta Composite Index (JCI) and the US Dollar Exchange Rate against the Rupiah (December 30, 2024 - April 9, 2025)

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On April 8, 2025, the first trading day after the Lebaran holiday, the Jakarta Composite Index (JCI) plunged 7.9% from its last closing price before the holiday.

The index continued to decline, reaching 5,967 on April 9, 2025, its lowest level since the beginning of the year.

Year-to-date (YTD) until April 9, 2025, the JCI had fallen 15.71%.

In line with the JCI's plunge, the Indonesian Rupiah continued to weaken.

From the beginning of the year until April 9, 2025, the US dollar appreciated by 4.83% (YTD) against the Rupiah.

The Rupiah was pressured to Rp16,943 per US$, as shown in the graph.

According to Coordinating Minister for Economic Affairs Airlangga Hartarto, the volatility in the JCI and the Rupiah was influenced by the global situation.

"Global economic uncertainty is creating high volatility in the financial markets," said Airlangga in his presentation material at the Economic Sarasehan in Jakarta (8/4/2025).

Meanwhile, Muhammad Saiful Hakim, a researcher from the Business Analytic and Strategy Laboratory at the Sepuluh Nopember Institute of Technology (ITS), stated that the weakening of the JCI and the Rupiah could impact the public.

"Large-scale capital outflow increases the demand for the US dollar, which has the potential to weaken the Rupiah. If this pressure continues, people's purchasing power could be affected," said Muhammad Saiful Hakim in his article on the ITS website (21/3/2025).

He also assessed that the turmoil in the capital market could trigger a wave of layoffs.

"Companies that have difficulty obtaining funding tend to postpone business expansion. If this condition continues, the risk of layoffs could increase, ultimately slowing economic growth," he continued.

Editor : Adi Ahdiat

"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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Rupiah Continues to Weaken as IHSG Plunges (April 9, 2025)

Rupiah Continues to Weaken as IHSG Plunges (April 9, 2025)

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