The exchange rate of the US dollar against the rupee strengthened this morning. AS dollar penetrated the level of Rp. 15,702 with a gain of 74 points (0.47%).
As quoted by RTI data, on Tuesday (22/11/2022), the US dollar is at its all-time high at IDR 15,714 and its low is at IDR 15,628.
Meanwhile, the US dollar’s movement against other Asian currencies has weakened. Uncle Sam’s currency is weaker than the Chinese Yuan, Japanese Yen and Singapore Dollar.
The movement of the US dollar against the Chinese yuan weakened by 0.16% to 7.15. Then the exchange rate of the US dollar against the Japanese yen also fell by 0.34% to 141.
Finally, Uncle Sam’s currency movement against the Singapore dollar weakened by 0.17% to 1.3.
BI Desperately protects the rupee
Bank Indonesia (BI) Governor Perry Warjiyo admitted that he was desperately trying to stabilize the rupee’s exchange rate this year. The foreign reserve ratio also decreased because of intervention in the financial market.
“This year we are desperately trying to stabilize the exchange rate. We have intervened in large numbers, because our foreign exchange reserves have fallen from $139.9 billion to about $130.1 billion,” Perry said in a working meeting with Commission XI of the DPR RI, Monday (11/21/2022).
Perry stressed that his party would defend against a further decline in foreign exchange reserves. One way is to ensure that foreign currency earned from exports that has been injected can stay longer in the country.
“We’re constantly puzzling over how exporters can stay longer in the country. This mechanism is continually being negotiated with banks, exporters to increase, and other ways as well so that foreign exchange reserves don’t decrease,” Perry said.
Also watch the video: US dollar goes crazy, hits IDR 15,550!