Indonesia's COVID-19 Vaccination and Economic Resilience Strategy
Exchange Rate In Line with Fundamentals
Movement of Rupiah
21-Dec-22
14120
14893
14669
14064 14219
Quarterly Average
IDR/USD
15561
14935
14566
14373
14157
14339 14399
6.00
14259
14344
~H
17,000
16,500
16,000
15500
15588
15,000
14,500
14,000
13,500
13,000
20
21
Thanks to the stabilization instituted by
Bank Indonesia, rupiah stability has been
maintained despite elevated global
financial market uncertainty. Pressure on
Rupiah exchange rate in November-
December 2022 decreases, influenced by
foreign capital inflows in SBN market and
stabilization measures taken by Bank
Indonesia. Rupiah performance is
relatively positive in the middle of strong
US dollar and high global financial
market uncertainty. US dollar index (DXY)
is recorded high at the level of 104.16
on 21 December 2022. With such
development, Rupiah exchange rate until
21 December 2022 is depreciated by
8.56% (ytd) compared to the level at the
end of 2021. The depreciation of Rupiah
exchange rate is comparatively lower
than the depreciation of currencies in
some other countries in the region, such
as China 8.96% (ytd) and India 10.24%
(ytd). Moving forward, Bank Indonesia will
continue to strengthen rupiah
stabilization policy in line with market
mechanisms and the
currency's
fundamental value in order to support
measures to manage inflation and
maintain macroeconomic stability.
Rupiah Exchange Rate Volatilty
27.92
Data s.d 21 Des 2022
%
30
26.51
■Oct-22
22.21
25
20.63
19.63
Nov-22
18.65
16.19
■Dec-22
15.59
15.72
15.12
13.42
13.9413.04
13.61
9.47
11.302 11.50
15
6.655 8.94
9.24
7.8217
5.91
10
6.49
5.66
3.0679
1.17
BRL
ZAR
TRY
IDR
KRW
THB
MYR
INR
SGD
PHP
Source: Reuters, Bloomberg (calculated)
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