JAKARTA - Financial Market Observer and Commodity Ariston Tjendra said that the movement of the rupiah has the potential to strengthen against the United States (US) dollar in early 2025.
Ariston said that at the opening of market trade in 2025, the US dollar index on Thursday morning, January 2 was at its highest level in 2 years in the range of 108.55.
"The strengthening of the US dollar is largely influenced by market concerns over global economic growth in 2025," he told VOI, Thursday, January 2.
Ariston said there were concerns about pressure from President Trump's economic policies, wars, US interest rates that did not fall again, China's economic slowdown, etc.
According to him, this has pushed the market into safe assets in the US dollar so that the dollar strengthens. However, several regional exchange rates such as SGD, THB, PHP, KRW, moved higher in early 2025.
Ariston estimates that at the beginning of the year, markets re-entered and purchased local currencies for business purposes that require local currencies.
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"So there is an opportunity for the rupiah to strengthen today," he explained.
Therefore, Ariston estimates that the movement of the rupiah in early 2025 has the potential to strengthen to the level of IDR 16,080 per US dollar with a potential resistance in the range of IDR 16,150.
Quoting Bloomberg, the Rupiah exchange rate on Tuesday, December 31, 2024, the rupiah exchange rate on the spot market closed higher by 0.06 percent at the level of Rp. 16,132 per US dollar. Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of Bank Indonesia (BI) closed up 0.03 percent to a price level of Rp. 16,157 per US dollar.
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