IT is very interesting to watch the rupiah exchange rate trajectory in the last two months. Even as the Covid-19 pandemic rages on, the rupiah remains relatively stable. Before the delta variant became widespread, in the first week of June, the rupiah was around Rp14,100 per US dollar at one point. After Covid-19 run amok, certainly the rupiah is under heavy pressure. However, the rupiah exchange rate remained stable at around