Investor Confidence Decreased For Rupiah Lesu To Rp16,625 Per US Dollar

Rupiah and US Dollars (Photo: dock. Antara)

JAKARTA - The Rupiah exchange rate weakened against the US dollar in currency exchange today. Rupiah weakened at the level of Rp16,625 per US dollar.

Quoting Bloomberg data, Tuesday, March 25, Rupiah weakened by Rp57.5 or 0.35 percent to Rp16,625 per US dollar. This morning the movement of Rupiah was in the range of Rp16,535-Rp16,654 per US dollar.

Money market observer who is also the President Director of PT Doo Financial Futures Ariston Tjendra assesses that investor confidence in the weakening stock exchange puts pressure on the rupiah exchange rate at the opening of trading Tuesday morning.

"Investors' trust in the domestic stock exchange has also put pressure on the rupiah. The pessimism of market players towards domestic economic growth is reflected in the movement of the IDX (Indonesian Stock Exchange) stock index," he said, quoting Antara.

Since the beginning of the year, JCI has fallen 931.21 points or 13.13 percent year to date (ytd) from 7,164 on January 2, 2025, to 6,161.22 on March 24, 2025.

This morning, the United States (US) dollar index also increased in the range of 104.30 compared to yesterday in the range of 104.10.

The market is still anticipating the negative impact of US President Donald Trump's tariff increase policy which will soon be in effect on April 2, a new conflict in the Middle East has also sparked market concerns, said Ariston.

Based on these factors, the rupiah exchange rate has the potential to weaken in the range of Rp. 16,590 to Rp. 16,600 per US dollar with a chance to support around Rp. 16,500 per US dollar.

The rupiah exchange rate at the opening of trading Tuesday morning in Jakarta weakened by 42 points or 0.26 percent to Rp16,610 per US dollar from the previous Rp16,568 per US dollar.