TEMPO.CO, Jakarta - Rupiah strengthened slightly to 16,502 per US Dollar at the closing of the trading market on Thursday, May 8, 2025. The Rupiah is predicted to weaken at the close of trading tomorrow.
Today, the Rupiah strengthened by 34 points compared to the previous closing of 16,535 per US dollar. Currency observer Ibrahim Assuaibi predicted that the Rupiah would fluctuate. "For tomorrow's trading, the Rupiah is expected to fluctuate but close weaker at 16,490 - 16,550 per US dollar," he said in his regular analysis on Thursday, May 8, 2025.
Meanwhile, Jakarta Interbank Spot Dollar Rate (Jisdor) data from Bank Indonesia (BI) revealed that today, the Rupiah strengthened to 16,497 per US dollar. The previous day's closing was 16,533 per US dollar.
According to Ibrahim, the global sentiment affecting exchange rate movements includes the decision of the U.S. Central Bank or the Federal Reserve (The Fed) to maintain benchmark interest rates. On Wednesday, May 7, 2025, U.S. time, Fed officials voted unanimously to keep rates between 4.25 percent and 4.5 percent. The Fed's benchmark interest rate has been unchanged since December 2024.
Furthermore, U.S. Treasury Secretary Scott Bessent will meet with top Chinese economic officials on May 10, 2025, to negotiate the trade war that has disrupted the global economy, in Switzerland. Both countries are the world's two largest economies, and disruptions from their trade dispute are likely to dampen crude oil consumption growth.
Ibrahim stated that the domestic sentiment is the decline in foreign exchange reserves. Bank Indonesia (BI) reported that Indonesia's foreign exchange reserves in April 2025 reached US$152.5 billion. This is down from the March 2025 position of US$157.1 billion.
The decline in foreign exchange reserves is influenced by the repayment of the government's foreign debts and the policy to stabilize the Rupiah exchange rate. These measures are BI's response to facing increasing global financial market uncertainty.
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