BI Projects Rupiah to Remain Volatile Through H1/2024

Despite relatively favorable conditions in the national economy, the rupiah’s value is expected to see changes throughout the first half of the year due to various global sentiments and conflicts.

Rinaldi Azka

31 Jan 2024 - 18.52
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BI Projects Rupiah to Remain Volatile Through H1/2024

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Bisnis, JAKARTA — Bank Indonesia (BI) projects that the value of rupiah would begin to stabilize in the second half of the year, prompting the need for stakeholders to brace for rupiah volatility throughout the first half.

BI’s forecast is based on expectations of Fed rate cuts, which is expected to start in the second half. The prediction aligns with US inflation data is still above the Fed’s target, while still maintaining the momentum of spending and economic growth domestically.

Thus, for the next five months, the Indonesian financial market is poised to face headwind. The rupiah has weakened by 2.6 percent year-to-date, in contrast to last year when it strengthened by 1,1% Exchange rate fluctuations can have a negative impact on business activities, especially those dependent on imported raw materials and foreign debt.

Both the central bank and the government need to strengthen exchange rate stability strategies until the middle of this year. The finance minister and BI governor stated that new instruments such as SRBI and SUVBI could be used to attract foreign investors, which would help support rupiah stability.

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Yanita Petriella
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BI Projects Rupiah to Remain Volatile Through H1/2024

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