The exchange rate of the rupiah against the United States (US) dollar, traded interbank in Jakarta, weakened by 20 points or 0.13 percent on Monday, (2/12/2024). The movement of the rupiah was overshadowed by a number of economic data.
Quoting Antara, the rupiah is at a position of 15,868 per US dollar from previously 15,848 per US dollar.
Meanwhile, Woori Saudara Bank Analyst Rully Nova predicts that the rupiah exchange rate will rise against the US dollar ahead of the release of domestic inflation data from the Central Statistics Agency (BPS) in November 2024.
“BPS will release the November inflation data, which is expected to align with market expectations,” Rully told Antara.
He stated that the monthly inflation forecast for Indonesia in November 2024 is 0.30 percent month on month. (mom).
He predicts that the rupiah will strengthen in the range of Rp 15,830 to Rp 15,890 per US dollar, influenced by the US dollar index and the declining yield on US government bonds.
Rully stated that the yield on 10-year U.S. government bonds fell to 4.1 percent.
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