Next week, the Rupee rate is expected to remain under pressure above Rp. 15,000 per US Dollar

Tribunnews.com journalist, Seno Tri Sulistiyono

TRIBUNNEWS.COM, JAKARTA – The Rupee’s exchange rate against the US Dollar in next week’s trading is likely to continue to be depressed by negative external sentiment.

“Next Monday, the Rupee currency may be open for fluctuation but closed lower in the range of Rp15,000 to Rp15,030,” PT Laba Forexindo Futures Director Ibrahim Ascustombi said in a statement on Saturday (23 /7/ 2022).

According to him, the central bank of the United States (the Fed) should raise interest rates by 75 basis points at the policy meeting on July 26-27, 2022, so that this can suppress the movement of the rupee.

Read also: Rupiah Touching Rp 15,013 Level On Friday Afternoon, Analyst: Next Week Potentially Weakens

However, the weakening of the Rupee is considered moderate, as domestic economic conditions are better than in some other countries.

“Bank Indonesia is keeping the benchmark interest rate at 3.5%. So this is the right step, namely on time, on time and in the right dose,” he explained. .

He believed that core inflation was still within BI’s reach, strong foreign exchange reserves and a trade balance surplus that was constantly supported by high export commodity prices, were also considerations for not changing the direction or stance of its accommodative monetary policy.

“The central bank policies of other countries such as the United States, South Korea, Europe, Britain, Australia, Canada tend to be hawkish or restrictive, where the rate of benchmark interest is raised following inflation because of its pro-stability spirit and these countries are very affected and are at risk of being hit by a recession,” he said.

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