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The dollar reaches 16,300 IDR/USD, still in a good position

The dollar reaches 16,300 IDR/USD, still in a good position
The dollar reaches 16,300 IDR/USD, still in a good position

 


Jakarta: President Joko Widodo (Jokowi) believes that the price of the rupiah at IDR 16,300 per USD remains a good position.
“Global uncertainty is currently haunting all countries. But in my opinion, if it is still between Rp 16,200 and Rp 16,300, it is still a good position,” Jokowi said after attending the 52nd anniversary of the Young Entrepreneurs Association (Hipmi). , in Jakarta, Monday June 10, 2024.
The reason is that all countries are facing exchange rate pressures in the face of an increasingly powerful dollar.
“All countries are currently experiencing the same thing, experiencing the same pressure from the so-called dollar exchange rate,” Jokowi said.
Previously, Minister of Investment/Head of the Investment Coordination Board (BKPM) Bahlil Lahadalia believed that the government was making efforts to overcome the pressure on the rupee exchange rate.
“In this case, the Minister of Finance and the Governor of BI will definitely exercise so that there can be a middle way for everything for the sake of our country's economy,” said Bahlil, at Merdeka Palace, Jakarta, Monday, June 10, 2024.

Markets focus on Fed meeting

Separately, money market observer Ibrahim Assuaibi said the US dollar index continued its rise from last week following the release of the report. non-agricultural payroll This strong figure suggests that investors have sharply reduced their expectations of an interest rate cut in September.
“The market is focused on the next Fed meeting, with the interest rate decision to be released on Wednesday. The central bank is expected to keep interest rates stable,” Ibrahim wrote in his research on Monday, June 10 2024.
Any signals regarding future policy will be closely watched, particularly after recent signs of resilience in US inflation and the US labor market.
A number of Fed officials have warned that the central bank will keep interest rates high for longer in the face of high inflation and a strong labor market.
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