Rupiah Is Predicted To Strengthen Limited Amid Lack Of Economic Data

JAKARTA - The rupiah exchange rate in trading on Wednesday, December 3, is estimated to have strengthened to the United States (US) dollar.

Citing Bloomberg data, Tuesday, December 2, 2025, the rupiah spot exchange closed higher by 0.23 percent to the level of Rp. 16,625 per US dollar.

Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of Bank Indonesia (BI) closed up 0.21 percent to a price level of IDR 16,632 per US dollar.

Doo Financial Futures analyst Lukman Leong said that the Rupiah is expected to move consolidatively against the US dollar, with limited potential for strengthening given whether or not the release of economic data is important.

Meanwhile, he added, the US dollar index is still under pressure regarding the prospect of appointing a new Fed Chair and the possibility of cutting interest rates.

"Rupiah is expected to consolidate against the US dollar with limited potential for strengthening amid the absence of important economic data. The US dollar index itself is still under pressure regarding the prospects for the new Fed head and cut interest rates." he told VOI, Wednesday, December 3.

Money market observer Ibrahim Assuaibi said that expectations for the continuation of the policy easing cycle of The Federal Reserve are getting stronger.

This can be seen from the CME FedWatch Tool, which shows an 87.4 percent chance of lowering interest rates by 25 basis points in December.

Ibrahim said that White House National Economic Advisor Kevin Hassett is expected to be the next Fed Chair, replacing Jerome Powell.

"However, US President Donald Trump said on Sunday that he would not tell anyone who would be appointed, but he had made his choice," he said in his statement, quoted Wednesday, December 3.

In addition, Ibrahim conveyed data from the Institute for Supply Management (ISM) showing that manufacturing activity in November contracted again, marking nine consecutive months of weakening.

He added that other ISM data also indicated an increase in input prices, while the condition of the labor market remained stable with low levels of dismissal and recruitment.

Ibrahim estimates that the rupiah will fluctuate in trading on Wednesday, December 3 in the price range of IDR 16,620 - IDR 16,640 per US dollar.

Meanwhile, Lukman projects that the movement of the rupiah on Wednesday, December 3, will move in the range of Rp. 16,550 per US dollar to Rp. 16,700 per US dollar.