THE rupiah exchange rate once morest the US dollar (United States) on Monday (1/7) closed stronger influenced by the decline in inflation in Indonesia. At the end of trading, the rupiah rose 54 points or 0.33% to 16,321 per US dollar from the previous 16,375 per US dollar.
“The rupiah will remain stable, tending to strengthen,” Mirae Asset Sekuritas Economist Rully Arya Wisnubroto said in Jakarta, Monday. Based on data from the Central Statistics Agency (BPS), the Indonesian economy experienced deflation of 0.08% in June 2024 when compared to the previous month’s CPI (month-to-month/mtm).
There was a decrease in the Consumer Price Index (CPI) from 106.37 in May 2024 to 106.28 in June 2024. With this development, annual inflation reached 2.51% (year-on-year/yoy) and calendar year inflation 1.07% (year-to-date/ytd).
Rully said that the condition had a positive impact, namely the strengthening of the rupiah exchange rate once morest the US dollar. In addition, the strengthening of the rupiah was supported by factors from the decreasing demand for foreign exchange entering the third quarter of 2024.
“Because of seasonal factors, so in the third quarter of 2024 there will be no more foreign exchange dividend payments, repatriation, and the hajj season,” he said. Bank Indonesia’s Jakarta Interbank Spot Dollar Rate (Jisdor) on Monday strengthened to Rp16,355 per US dollar from Rp16,394 per US dollar previously. (Ant/Z-2)
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