Rupiah potentially weaker during trading on Tuesday, July 26, 2022

Liputan6.com, Jakarta – Trading on Monday (7/25/2022). rupiah closed 20 points despite having strengthened 40 points at the Rp. 14,993 level. Meanwhile, the rupiah was at the 15,013 position at the end of the previous trade.

PT Profit Forexindo Berjangka Director Ibrahim Ascustombi said the rupiah has the potential to weaken during Tuesday, July 26, 2022 trading.

“The rupiah currency could falter but close lower in the range of Rp 14,980 to Rp 15,020,” Ibrahim said in a written statement on Monday, July 25, 2022.

Internally, Ibrahim said, the current global economic climate is under tremendous pressure due to high commodity prices, rising inflation and the risk of debt leading to risk recession total.

Indonesia has also been hit by various stresses and turbulences, most notably high inflation, which prompted many global central banks to raise interest rates. However, given the relatively good fundamentals and performance so far, the risk for the Indonesian economy comes from external pressure and not from within the country.

“Judging by the level inflation Indonesia is still relatively low compared to other countries because it’s still pretty close to the government’s expectations, which are in the 4 percent range. This state of affairs may occur due to the mix of fiscal and monetary policies by the government and Bank Indonesia, among other things,” Ibrahim said.

On the other hand, according to Ibrahim, BI will further strengthen coordination with the government and relevant agencies and further optimize the policy mix strategy to maintain macroeconomic and financial system stability and support further economic recovery.

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