Rupiah Weakens as High Oil Prices Pressure Currency

Tempo07-30

TEMPO.CO, Jakarta - The rupiah exchange rate against the US dollar at the close of trading on Thursday weakened by 38 points, or 0.12 percent, to Rp18,111 per US dollar, compared to the previous close...

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This could result in fiscal and trade deficits.","collect":0,"end_time":0,"defaultTopTitle":"tempo.co","property":[],"viewcount":null,"language":"en","relate_stocks":{"GDMA":"Gadsden Dynamic Multi-Asset ETF","DCMT":"DoubleLine Commodity Strategy ETF","BK4077":"互动媒体与服务","BINT":"Bluemonte Global Equity ETF","DBMF":"iMGP DBi Managed Futures Strategy ETF","CDIG":"City Different Investments Global Equity ETF","BAMA":"Brookstone Active ETF","VEXC":"Vanguard Emerging Markets Ex-China ETF","NELS":"Nelson Select ETF","TLT":"20+年以上美国国债ETF-iShares","FOMC":"FOMO CORP.","FFR":"First Trust FTSE EPRA/NAREIT Dev","UST":"ProShares Ultra 7-10 Year Treasu","FARX":"Frontier Asset Absolute Return ETF","AAUB":"Alpha Architect US Equity 4 ETF","BAMO":"Brookstone Opportunities ETF","RGLO":"Global Equity Active ETF","FFR.AU":"Firefly Resources Ltd","FITZ":"Fitz-Gerald Must Have Portfolio ETF","RJZ":"ELEMENTS Linked to the Rogers International Commodity Index - Metals Total Return","CIVG":"Corgi 1-5 Year Investment Grade Corporate Bond ETF","HFGM":"Unlimited HFGM Global Macro ETF","MUNX":"AMG GW&K Muni Income ETF"},"translate_title":"高油价给货币带来压力，印尼盾走弱","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RJZ":0.64,"HFGM":0.76,"BAMO":0.64,"BAMA":0.64,"FITZ":0.64,"US7Y.BOND":0.9,"FFR.AU":1,"UST":1,"BINT":0.64,"FARX":0.76,"RGLO":0.64,"DBMF":0.64,"US30Y.BOND":0.9,"TLT":0.6,"GDMA":0.64,"US5Y.BOND":0.9,"CDIG":0.64,"FOMC":1,"NELS":0.64,"US10Y.BOND":0.9,"CIVG":0.64,"US12M.BOND":0.9,"US2Y.BOND":0.9,"FFR":1,"US6M.BOND":0.9,"VEXC":0.64,"DCMT":0.76,"MUNX":0.64,"US3Y.BOND":0.9,"AAUB":0.64},"content_text":"TEMPO.CO, Jakarta - The rupiah exchange rate against the US dollar at the close of trading on Thursday weakened by 38 points, or 0.12 percent, to Rp18,111 per US dollar, compared to the previous close of Rp18,073 per US dollar.According to Woori Bank analyst Rully Nova, the rupiah's weakening was influenced by high oil prices. \"The rupiah weakened in today's trading, influenced by global factors, such as the strengthening dollar index and oil prices remaining at high levels,\" he said on Thursday, as quoted by ANTARA.\nHe continued, although the oil price trend is declining, it is still far above the price assumptions in the state budget. This could result in fiscal and trade deficits.\n\n\n\n\n\n\n\n\n\nAnother sentiment stemmed from the Federal Open Market Committee (FOMC) meeting, which indicated a hawkish stance by the Federal Reserve (the Fed). This led to an increase in government bond yields. The 10-year yield rose by 0.5 basis points (bps), while the 2-, 3-, and 6-year yields rose by 1.2, 1.4, and 2.6 bps, respectively.\"The 6-year tenor saw the largest increase, 14 bps, even though there was no capital outflow,\" he said.Similarly, Permata Bank Chief Economist Josua Pardede predicted that the rupiah would fluctuate within a limited range after the U.S. FOMC announced its monetary policy.\"In line with market expectations, the Fed maintained the Fed Funds Rate (FFR) at 3.50-3.75 percent at its July 2026 meeting and reaffirmed its commitment to restoring price stability,\" he said.In a post-meeting press conference, he continued, Fed Chairman Kevin Warsh said the U.S. central bank continues to monitor the upward trend in U.S. Treasury (UST) yields, which indicates that bond investors have implemented some of the efforts to tighten financial conditions that the central bank hopes for.This statement lowered market expectations of a potential interest rate increase in the near future while pushing up UST yields on long-term maturities.Meanwhile, Bank Indonesia's Jakarta Interbank Spot Dollar Rate (JISDOR) strengthened today to Rp18,078 per US dollar from Rp18,087 previously.Read: Rupiah Weakens as Markets Eye BI Policy DirectionClick here to get the latest news updates from Tempo on Google News","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"economic","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.48.0","shortVersion":"4.48.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2655803265","isCrawlerRequest":true}