BI Governor Optimistic Rupiah At The End Of The Year Reaches IDR 15,800

JAKARTA - Bank Indonesia (BI) estimates that the rupiah exchange rate against the United States (US) dollar will be stable in the second quarter of 2024 and will move higher in the next quarter.

BI Governor Perry Warjiyo is optimistic that the movement will stabilize at the level of Rp. 16,200 per US dollar in the second quarter of 2024 and will strengthen towards Rp. 15,800 per US dollar in the fourth quarter of 2024.

"We believe that the rupiah will remain stable around Rp. 16,200 in the second quarter and strengthen towards an average of Rp. 16,000 in 2023 and even strengthen an average of Rp. 15,800 in the fourth quarter of 2024. With the responses submitted," Perry said at the RDG BI press conference, Wednesday, April 24.

Meanwhile, the weakening of the Rupiah until April 23, 2024 was recorded to be lower, namely 5.07 percent (ytd).

Perry menyampaikan, Bank Indonesia terus memperkuat kebijakan stabilisasi nilai tukar Rupiah dengan mengoptimalikan seluruh instrumen moneter yang tersedia, baik melalui intervensi di pasar valas secara spot dan DNDF, pembelian SBN dari pasar selatanif diperlukan, pengelolaan likuiditas secara adai, maupun langkah-langkah lain yang diperlukan.

The pro-market monetary operation strategy through SRBI, SVBI, and SUVBI instruments continues to be optimized to attract the entry of foreign portfolios from abroad.

"Bank Indonesia also continues to strengthen coordination with the Government, banking, and the business world to support the implementation of instruments for the placement of the Natural Resources Export Result Foreign Exchange (DHE SDA) in line with PP Number 36 of 2023," he explained.