JAKARTA - The rupiah exchange rate in trading Wednesday, January 22, 2025 is expected to move higher against the United States (US) dollar.
To note, citing Bloomberg, on Tuesday, January 21, 2025, the rupiah spot exchange rate was closed up 0.15 percent to the level of IDR 16,343 per US dollar.
Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of Bank Indonesia (BI) closed up 0.25 percent to a price level of Rp. 16,331 per US dollar.
Director of PT Profit Forexindo Berjangka Ibrahim Assuaibi said Trump did not impose any trade rates on China, Mexico, and Canada, three countries that had been the subject of his anger in recent months on the first day of his term as President.
"But Trump hints that he is reevaluating US trade, in particular that he will impose a 25 percent tariff on imports from Canada and Mexico," he said in his statement, quoted Tuesday, January 21.
In addition, Trump also signed an order calling for the America First trade policy, instructing federal agencies to investigate unfair trade practices by other countries while also reviewing current trade agreements.
Trump's orders sparked speculation that he would still impose higher trade rates on major economies, especially China.
This happened even when Trump had a positive dialogue with his Chinese counterpart Xi Jinping last week.
According to him, increasing trade rates could disrupt global trade, and could also trigger countermeasures from key economies, sparking a new global trade war between the US and other major economies.
"However, China is expected to open more stimulus in the face of the US trade war, which could increase local growth," he said.
Meanwhile, from within the country, the government is confident that food and energy self-sufficiency priority programs can be realized more quickly.
Ahead of 100 days of his reign, Prabowo said that the food self-sufficiency, which was originally targeted to be achieved in 2029, is now believed to be achieved within 2 years.
"For three years, Prabowo is also optimistic that self-sufficiency in energy can be achieved in the near future. In the next 5 years, Indonesia can escape the dependence of imports of fuel oil (BBM)," he explained.
Meanwhile, in realizing self-sufficiency in energy, the government has started implementing mandatory use of biodiesel-based fuel mixtures based on palm oil by 40 percent or B40 starting January 1, 2025.
With the implementation of B40, the state can save foreign exchange from reducing fuel imports.
The state says that with large natural resources (SDA) and good state capabilities in carrying out energy transformation, it is not impossible to achieve 100 percent energy self-sufficiency by the end of 2029.
The Swasembada Food & Energy strategy Along with the target of self-sufficiency in food, the government has decided to no longer import four food commodities, namely rice, consumption sugar, consumption salt, and corn for animal feed by 2025.
SEE ALSO:
Ibrahim said that the termination of importation was not only carried out on the four commodities.
However, it will periodically optimize the production of other commodities to reduce even stop imports.
In addition, the government has also officially closed the tap for imported wheat for animal feed this year.
This step was taken because domestic corn production was abundant.
Ibrahim estimates that the rupiah will fluctuate but close higher in trading on Wednesday, January 22, 2025, in the price range of IDR 16,300-IDR 16,350 per US dollar.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)