September 8, 2025 | 11:45 am
TEMPO.CO, Jakarta - Currency analyst at Doo Financial Futures, Lukman Leong, said the strengthening of the exchange rate of the Indonesian rupiah was influenced by very weak US Non-Farm Payroll (NFP) data.
"The rupiah is expected to strengthen against the weakening US dollar quite sharply after the very disappointing US NFP employment data," he told Antara in Jakarta on Monday, September 8, 2025.
The exchange rate of the rupiah at the opening of trading on Monday in Jakarta strengthened by 48 points or 0.29 percent to Rp16,385 per US dollar from the previous Rp16,433 per US dollar.
The US was reported to have added only 22,000 jobs in August 2025, far below the estimated 75,000.
Furthermore, he continued, the jobs in June were actually revised down, losing 13,000 jobs compared to an addition of 14,000.
With the deteriorating sentiment of the US dollar due to a series of weaker economic data than before, and the dovish statements from Federal Reserve officials, it is almost certain that The Fed will cut interest rates this month.
"Domestically, investors are waiting for foreign exchange reserve (cadev) data," Lukman said.
Citing Xinhua, the US unemployment rate in August soared to 4.3 percent, the highest in almost four years.
Average hourly earnings increased by 0.3 percent monthly, but the annual increase of 3.7 percent is slightly below the expected 3.8 percent.
This August report is the first one released since US President Donald Trump fired former Commissioner of Labor Statistics Erika McEntarfer, following the weak July labor report. Trump then claimed that the employment growth data had been manipulated.
Based on these factors, the rupiah exchange rate is estimated to be around Rp16,350-Rp16,450 per US dollar.
Editor's Choice: Bank Indonesia Optimistic Rupiah May Strengthen Toward Rp16,000 per US Dollar
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