Jakarta –
Yesterday, the exchange rate of the United States dollar (US) against the euro was recorded at the equivalent. From RTI trading data (12/7) US$ 1 is equivalent to 1.0014 euros. This condition has only occurred in the last 20 years.
CELIOS Director Bhima Yudhistira Adhinegara revealed that this condition did occur between the US dollar and other currencies.
“US dollar is going crazy, yesterday euro and dollar AS the value is the same. Because all over the world everyone is hunting for US dollars,” he said when contacted, Wednesday (13/7/2022).
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He said this strengthening could be seen from the dollar index which had touched 108 and was the highest level.
PermataBank Chief Economist Josua Pardede explains the effect of exchange rate parity dollar AS and euro tend to be less significant to other exchange rate movements.
He explained that the weakening of the euro itself was influenced by a potential recession in the euro zone, mainly due to the energy crisis, along with the ongoing Russia-Ukraine war.
“The weakening of the euro then has an impact on the decline in the euro and rupiah in financial markets. In the medium term, this has the potential to reduce Indonesia’s export performance, given that Indonesian exports are relatively more expensive,” he said.
But in general, especially the general public, basically there is no need to worry about the weakening of the rupiah exchange rate, especially for people whose income and expenses are in rupiah because it does not have a significant impact.
Furthermore, people who consume local products will not be affected.
Meanwhile, consumers who consume imported goods (which are often categorized as luxury goods) are expected to have quite an impact on people who tend to be middle to upper class.
So there is nothing to worry about for the general public about the weakening of the rupiah. Meanwhile, in terms of business fields, which have a high import component while sales are denominated in rupiah, it is estimated that this will have an impact on the weakening of the rupiah exchange rate.
“Several domestic sectors that have high import components include the wheat flour industry, jewelry, aircraft and repair services, electronic goods,” he explained.
Watch Videos”Whoops! Rupiah is getting worse, the US dollar is almost Rp. 15,000“
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