The rupiah exchange rate against the US dollar today, Thursday, April 1, 2022. The rupiah exchange rate is predicted to remain depressed on Thursday (4/1/2022) after being in the range of Rp. 14,500 per US dollar. Based on Bloomberg data, the rupiah exchange rate in the spot market closed on Wednesday (31/2/2022) by 45 points or 0.31% to the level of Rp. 14,525 per US dollar.
At that time, the US dollar index was seen dropping 0.1%, or 0.09 points, to 93.207. Data published by Bank Indonesia the other day said the Jisdor reference rate was at Rp. 14,572 per US dollar, down 91 points or 0.63% compared to Tuesday’s position (March 30, 2022) at Rp. 14,481 per US dollar.
Director of TRFX Garuda Berjangka Ibrahim Ascustombi in his report explained that the high demand for corporate foreign exchange near the end of the quarter contributed to the movement of the rupiah. The need for foreign exchange (forex) at the end of this quarter is indeed quite high because it takes into account the obligation to pay dividends, outstanding debts, and other needs.
Exchange Rupiah “A lot of rupiah was released to be replaced with foreign currencies, especially US dollars. The following winds caused the rupiah to decline,” he said. Ibrahim predicts for trading Thursday (4/1/2022) Rupiah exchange, the rupiah will open to fluctuate but will close down again in the range of 14,530-14,590 rupees.
The exchange rate of the rupiah against the US dollar. On the other hand, one of the most important aspects underlying the weakening of the rupiah is the positive trend of the US dollar. The strengthening of the greenback is supported by accelerated US vaccinations and the expected special stimulus package, which drives inflation expectations and increases bond yields.
In addition, yields on ten-year US Treasury bonds rose to a 14-month high on Tuesday, one day before President Joe Biden explains how the $3-4 trillion infrastructure idea will be funded.
He intends to open a US COVID vaccination program for 90% of American adults by the beginning of the week ending April 19. Rupiah exchange rate
The CB Conference Board’s consumer confidence index rose to 109.7 on Tuesday in March, the highest level since COVID began. www.rancakmedia.com’s prediction is 96.9, while the index comes in at 90.4 in February.
At that time, investors were waiting for the US employment report for March, including Friday’s non-farm payrolls. Investors will be watching the figures closely after the Federated Reserve cited a weak job market due to its prolonged wariness of interest rates.
While the Fed’s stance has improved the economic outlook, it has raised inflation concerns. At that time, the idea of additional stimulants from the United States had a negative effect on the Indonesian market.
Rupiah exchange rate. He explained that the additional stimulant resulted in the US economy being able to improve faster than research predicted, thus affecting inflation and rising 10-year US bond yields, thus affecting the economy of developing countries such as Indonesia.
