Jakarta - The United States dollar exchange rate against the rupiah today continued to strengthen since the opening of trading this morning. This afternoon, the US dollar has penetrated in the figure of Rp 14.450, higher than the figure this morning at the level of Rp 14,428.
Similarly quoted detikFinance from Reuters on Tuesday (3/7/2018). In the past hour, the US dollar exchange rate against the rupiah has been steadily climbing, with the rupiah moving from Rp 14,385 to Rp 14,450 all day.
While the Russian and Australian currencies are also depreciated by the US dollar, other currencies appear to be strengthening. The successful currency against the US dollar is the euro, the Swiss franc, the Canadian dollar, the British pound, the Chinese yuan renminbi, and the Hong Kong dollar.
Earlier Head of the Fiscal Policy Office (BKF) Finance Ministry Suahasil Nazara explained that the strengthening of the US dollar was caused by various factors.
"If the rupiah depends on the supply and demand movement, global volatility makes some international movements from international portfolios in the money market," he said.
Suahasil also explained that currently the US benchmark rate is also still higher at 2%. It makes market participants prefer to put the money there. Moreover, he said, the US central bank or the Fed would again raise its benchmark interest rate.
"From emerging market into the United States, so the money out of emerging market then he entered the United States because American interest rates are relatively higher and is expected to rise," he said.
Economist Fuad Bawazier urged the government not to continue to blame global conditions when the rupiah weakened against the US dollar.
Fuad said the core weakening of the rupiah is the supply of dollars or dollar income into the Indonesian economy is smaller than the demand or the need for dollars, the rupiah weakened. That is, according to him this happens because the current account deficit of Indonesia this year is estimated at US $ 25 billion.
"This deficit is the main source of the weakening of the rupiah against the dollar, so do not confuse or continue to blame the global economy and so on," Fuad said.