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 on Monday, May 19.
Ariston revealed that news of a decline in US debt rating by Moody's prompted a weakening of the US Dollar.
In addition, he said that the expectations of cutting the Fed's interest rate due to the weakening US economic conditions also triggered the weakening of the US dollar.
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"The news about the expectations of cutting the Fed interest rate due to the weakening US economic condition due to Trump's tariff policy which reduced consumption also triggered a weakening of the US dollar," he told VOI, Monday, May 19.
He conveyed that the movement of the rupiah on Monday, May 19 has the potential to strengthen to the level of Rp. 16,350 per US dollar, up to Rp. 16,400 per US dollar.
Quoting Bloomberg, on Friday, May 16, the rupiah spot exchange rate was closed up 0.51 percent to the level of Rp. 16,445 per US dollar. Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of Bank Indonesia (BI) closed up 0.67 percent to a price level of Rp. 16,424 per US dollar.
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