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  • Indonesia Investments Report - April 2023 Edition

  • 21 May 2023 (closed)

  • Jakarta Composite Index (6,700.56)  +37.45  +0.56%

  • GDP Growth Q1-2023 5.03% (y/y)

  • Inflation April 2023 4.33% (y/y)

  • Central Bank BI 7-Day Reverse Repo April 2023 5.75%

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  • Weakening of Indonesian Rupiah Against US Dollar is Part of Global Trend

Weakening of Indonesian Rupiah Against US Dollar is Part of Global Trend

18 July 2013 | 
  • Capital Inflow
  • ASEAN
  • Currency
  • Central Bank
  • Interest Rate
  • US Dollar
  • BI
  • USD
  • IDR
  • USA
  • Global Economy
  • BI Rate
  • Bank Indonesia
  • Rupiah

According to various analysts and the central bank of Indonesia, the weakening of the IDR rupiah should not be too alarming as there currently is a global trend in which currencies, worldwide, weaken against the US Dollar. This situation is triggered by the economic recovery that has been experienced by the world's largest economy recently. Compared to other ASEAN members, the rupiah's decline is normal. The central bank adds that foreign capital inflows will return and will strengthen the country's currency.

| Source: Bank Indonesia

Despite Indonesia's higher benchmark interest rate (which was raised by 50 bps to 6.50 percent on 11 July), the rupiah continued its weakening trend, even surpassing the psychological boundary of IDR 10,000 per US dollar.

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