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Rupiah’s Decline: The Fed Is Not the Only Culprit

Monday, April 1, 2024

Several domestic factors also play important roles in the rupiah’s downward slide. The market is still concerned about Prabowo’s intention.

arsip tempo : 172088961762.

Ilustration: TEMPO/Alvin Siregar. tempo : 172088961762.

RECENTLY, the value of the rupiah has been plummeting quite sharply, nearing Rp15,900 per United States dollar. Indonesia’s economy now appears vulnerable as global financial market roil. This is in contrast to the situation just last year, when Indonesia’s financial markets remained relatively resilient amidst various market upheavals.

External shocks indeed continue to be the primary driver of the decline of the rupi

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