Rupiah Touches IDR 16,000 Per US Dollar, Coordinating Ministry For The Economy: Driven By External Factors

JAKARTA - The rupiah exchange rate continues to fluctuate and touches IDR 16,000 per US dollar on Tuesday, December 17.

As for the Rupiah exchange rate on Tuesday, December 17, 2024, the rupiah spot exchange rate was closed lower by 0.62 percent to the level of Rp. 16,100 per US dollar.

Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of Bank Indonesia (BI) closed down 0.19 percent to a price level of Rp. 16,050 per US dollar.

Assistant Deputy for Macroeconomics and Fiscal Affairs of the Coordinating Ministry for the Economy Andriansyah said that the movement of the rupiah exchange rate was influenced by various external and internal data.

"Rupiah is the same as the exchange rate, the capital market has a lot of information, it is influenced a lot by some information. There is domestic information, there is information abroad. That's also the dynamics, so it's difficult for us to say that the rupiah has dropped because of what. That's because there are many factors," he said when met at the Coordinating Ministry's Office, Tuesday, December 17.

Andriansyah explained, in the current movement of the rupiah, of course there are external factors that also affect, such as the impact of Trump's decision and the upcoming Federal Reserve (Fed) policy.

According to Andriansyah, from the government side, including Bank Indonesia (BI), will take various actions such as intervention through monetary instruments and others.

"If it's from us, we will still control the impact of the rupiah, tell the assumption of the state budget, for example. What impact will it have," he said.

In addition, Andriansyah said the government would also take into account the influence of the rupiah movement on VAT policies and incentives for labor-intensive sectors.

All of these factors will be calculated to understand the possible impacts.

Andriansyah said that currently external factors are more dominant because of uncertainty. For example, related to the tariff policy submitted by Trump, which is still a plan and has not been realized.

According to him, because Trump has not been inaugurated, there is no certainty whether the policy will be implemented or not. All of this is still a discourse, without clear certainty.

"Remember what was promised, what is being said at this time and the tariff is still talk. He has not been inaugurated. He is still in anticipation. He has not been inaugurated. There is no definite certainty", he concluded.