JAKARTA - Financial Market Observer and Commodity Ariston Tjendra said that the movement of the rupiah has the potential to weaken against the United States (US) dollar on Wednesday, February 12.
Arisron said the market might respond to a statement by US Central Bank Governor Jerome Powell last night who spoke at a hearing with the US Senate.
"Powell hints that it is possible to maintain the current interest rates for some time and not cut them for a while," he told VOI, Wednesday, February 12.
According to him, the signal is because the US economy is still quite solid and the uncertainty of President Trump's tariff policy.
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He estimates that the movement of the rupiah on Wednesday, February 12, has the potential to weaken against the US dollar towards the level of Rp. 16,400 per US dollar with the potential for support to the level of Rp. 16,330 per US dollar.
Quoting Bloomberg, the Rupiah exchange rate on Tuesday, February 11, 2025, the rupiah exchange rate on the spot market closed down 0.16 percent at the level of Rp. 16,384 per US dollar. Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of Bank Indonesia (BI) closed down 0.18 percent to a price level of Rp. 16,380 per US dollar.
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