Rupiah Depreciates to Rp 17,386 per US Dollar Amid Global Uncertainty
The rupiah exchange rate continues to weaken against the US dollar, hitting Rp 17,386 per dollar in Monday's trading (5/11). This depreciation is triggered by rising global uncertainty, including stalled talks between the US and Iran, along with a drop in domestic consumer confidence data.
Currency analyst Lukman Leong from Doo Financial Futures stated that the rupiah's weakening follows the strengthening dollar and global crude oil prices, due to the stalled dialogue between the US and Iran. Geopolitical tensions increased after Iran rejected a US peace proposal, which was considered to contain excessive demands.
Domestically, additional pressure came from an expected decline in consumer confidence surveys. With these various sentiments, the rupiah is expected to move in the range of Rp 17,300 to Rp 17,400 per US dollar in the near term.
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