September 9, 2025 | 10:35 am
TEMPO.CO, Jakarta - Currency analyst at Doo Financial Futures, Lukman Leong, projected that the rupiah would weaken against the US dollar on Tuesday, following investor concerns over the replacement of Finance Minister Sri Mulyani.
“This domestic sentiment is very strong, as reflected in the Jakarta Composite Index (IHSG), which dropped sharply after the confirmation of the ministerial change,” Lukman told Antara on September 9, 2025.
He noted that external factors also played a role. The US dollar index remains under pressure amid growing expectations of Federal Reserve interest rate cuts, which added to the rupiah’s decline.
Considering these dynamics, Lukman estimated the rupiah would trade in the range of Rp16,350 to Rp16,550 per US dollar.
At the opening of today’s market, the rupiah weakened by 185 points or 1.13 percent, trading at Rp16,495 per US dollar compared to Rp16,310 previously.
President Prabowo Subianto officially inaugurated Purbaya Yudhi Sadewa as finance minister at the State Palace in Jakarta on Monday, September 8, 2025, replacing Sri Mulyani.
Purbaya, who previously served as Chairman of the Board of Commissioners of the Deposit Insurance Corporation (LPS), was appointed under Presidential Decree No. 86/P of 2025 on the dismissal and appointment of ministers and deputy ministers in the 2024–2029 Red and White Cabinet. His appointment took effect immediately upon inauguration.
Sri Mulyani had led the Finance Ministry since the second term of former President Joko Widodo. She was reappointed on October 21, 2024, by President Prabowo when forming his first cabinet lineup.
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