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Record-breaking Robbery in Los Angeles: Largest Cash Theft in History of US$30 Million

by Ethan Caldwell April 6, 2024

written by Ethan Caldwell

Jakarta –

The robbery occurred at a cash storage facility in the San Fernando Valley on Sunday night last week. This robbery case was recorded as the largest in Los Angeles history. How much is the loss?

Launching from SCMP, Saturday (6/4/2024), the loss from this robbery reached US$ 30 million or around Rp. 476 billion (exchange rate Rp. 15,890). This robbery occurred in the Sylmar area, where cash generated from businesses throughout the area is stored. The robbers managed to break into the building and the safe where the money was kept.

Sources familiar with the investigation said the robbers broke through the roof of the facility to gain access to the safe. However, it is not clear how they avoided the alarm system in place.

Strangely, when seen from the outside, the safe where they kept the money showed no signs of being broken into. The operators of the place didn’t even know there had been a robbery until they opened the safe the next day.

According to police sources, not many people knew that there was a lot of cash stored in the building’s safe. The safe break-in demonstrated the presence of a group of experienced thieves who knew how to break into secure facilities unnoticed.

Two years ago, another major robbery occurred at a Grapevine truck stop. Jewelry and valuables worth millions of dollars were stolen from the truck.

Another largest cash robbery also occurred in Los Angeles on September 12 1997. The robbers managed to take US$ 18.9 million or around Rp. 300 billion from the former location of the Dunbar Armored facility on Jalan Mateo. The perpetrator was finally caught.

(fdl/fdl)

2024-04-06 02:00:08
#Strange #Event #IDR #Billion #Disappeared #Knowing

April 6, 2024 0 comments

Business

Rupiah Exchange Rate Strong Potential to Strengthen Against US Dollar: Live Timeline and Expert Analysis

by Ethan Caldwell January 22, 2024

written by Ethan Caldwell

Live Timeline

12:02 WIB

10:28 WIB

09:05 WIB

Bisnis.comJAKARTA — Rupiah exchange rate has the potential to strengthen against the United States (US) dollar in trading early next week, Monday (22/1/2024), due to the potential for the Fed to cut interest rates in the future.

On Friday (19/1/2024) the rupiah closed up 0.05% or 8.5 points to a level of IDR 15,615 per US dollar. On the other hand, the US dollar index was observed to weaken 0.15% to Rp. 103.38.

Financial Market Observer Ariston Tjendra said there are several catalysts that could encourage the rupiah to strengthen next week, namely a series of releases US economic data.

“The Rupiah has the opportunity to strengthen and trade below IDR 15,600 against the US dollar this week,” said Ariston to Business Saturday (20/1/2024).

According to him, the strengthening of the rupiah might occur if the US economic data released Thursday (25/1/2024), namely US gross domestic product (GDP) data for the fourth quarter of 2023, is below the estimate of 1.8%.

As previously, US GDP increased 4.9% in the third quarter of 2023 compared to the same period the previous year (year-on-year/yoy).

Apart from the release of US GDP data for the fourth quarter of 2023, investors’ attention next week will also be focused on the release of the US personal shopping price index (PCE), on Friday (26/1/2024).

According to him, the weakening US economy will confirm cuts interest rate US benchmark by the Fed this year, which could encourage the weakening of the US dollar.

As for The Fed still holding interest rates or the Fed Funds Rate (FFR) in the range of 5.25%-5.5% at the FOMC in December 2023. The Fed is projected to cut interest rates at least three times this year.

Apart from that, Ariston said market players are also still wary of the increasingly heated tension situation in the Middle East which could trigger another shift to safe assets (safe haven) like gold and encourage the strengthening of the US dollar.

“Another issue that could give negative sentiment to the rupiah is the issue of the global economic slowdown. High inflation conditions, geopolitical conflicts that disrupt supply, etc. are market concerns that will slow down the economy,” he concluded.

As a result, with this series of sentiments, Ariston projects the movement of the rupiah exchange rate against the US dollar in the range of IDR 15,500 to IDR 15,650 this week.

Separately, Forexindo Berjangka Profit Director Ibrahim Assuaibi said strong retail sales data and a series of hawkish comments from Fed officials this week fueled increasing doubts that the Fed would start lowering interest rates in March 2024.

He said the US Department of Labor reported initial claims for state unemployment benefits fell by 16,000 to a seasonally adjusted 187,000 for the week ending January 13, 2024, and was the lowest level since September 2022.

“Market players are seen reducing bets on the Fed cutting interest rates with a 51.9% chance of cutting interest rates in March 2024, down sharply from the 68.3% seen last week,” Ibrahim said in research Friday, (19 /1/2024).

From domestic sentiment, government debt until December 31 2023 closed at IDR 8,144.69 trillion. This amount increased by IDR 103.68 trillion compared to the previous month which was IDR 8,041.01 trillion.

The increase in debt brings the government debt ratio at the end of 2023 to 38.59% of gross domestic product (GDP), up from the previous month’s level of 38.11% but down compared to the end of 2021 and 2022.

In detail, the amount of government debt in the form of SBN is IDR 7,180.71 trillion. Consisting of domestic SBN amounting to IDR 5,808.13 trillion, originating from Government Debt Securities (SUN) IDR 4,700.60 trillion and State Sharia Securities (SBSN) amounting to IDR 1,107.53 trillion.

“For trading next Monday, the rupiah currency is predicted to fluctuate but will close slightly higher in the range of IDR 15,590 – IDR 15,650,” explained Ibrahim.

Check out the movement of the rupiah exchange rate against the US dollar today live.

12:02 WIB

Rupiah is under pressure

The Rupiah fell 13.5 points or 0.09% to IDR 15,628.5 per US dollar as of 12.00 WIB.

The US dollar index corrected 0.10% to 103.185.

10:28 WIB

Rupiah weakens

The Rupiah weakened 10 points or 0.06% to IDR 15,625 per US dollar as of 10.25 WIB.

The US dollar index fell 0.13% to 103.156.

09:05 WIB

The rupiah is stagnant, the US dollar is sluggish

The rupiah opened stagnant at IDR 15,615 per US dollar.

The US dollar index weakened 0.13% to 103.152.

2024-01-22 05:11:19
#Rupiah #Exchange #Rate #Dollar #Today #Monday

January 22, 2024 0 comments

Business

Today’s Rupiah Exchange Rate and US Dollar Movement in Jakarta

by Ethan Caldwell December 20, 2023

written by Ethan Caldwell

Jakarta –

Today’s rupiah exchange rate is at IDR 15,498 per US dollar. Quoted from RTI data, it was stated that the US dollar weakened 7 points or 0.05%.

The Rupiah opened at IDR 15,505 and the highest level was IDR 15,505 with the lowest level being IDR 15,498

Weekly the US dollar is minus 1%, monthly minus 0.46% and year to date minus 0.46%.

The US dollar moved varied against other currencies. The highest dollar strengthening occurred in the yuan.

The US dollar against the Australian dollar weakened 0.06%. Then the euro strengthened 0.10%. Then the pound strengthened 0.06%, the yuan strengthened 0.12%, the yen strengthened 0.01% and the Singapore dollar weakened 0.04%.

Meanwhile, the Composite Stock Price Index (IHSG) at the opening of trading this morning was at the level of 7,187.84. JCI then moved up to 7,210.04, up 22 points or 0.31%.

Watch the video “The US dollar goes berserk, a series of goods waiting to become more expensive”

(kil/that)

2023-12-20 03:02:35
#Dollar #Weakens #Rupiah #Starts #Muscle

December 20, 2023 0 comments

Business

Bank Indonesia Focuses on Maintaining Rupiah Stability Amid Global Uncertainty

by Ethan Caldwell November 13, 2023

written by Ethan Caldwell

Raja Ampat, CNBC Indonesia – Bank Indonesia (BI) has been more focused on maintaining rupiah stability in recent times. This is because the movement of the rupiah is in a weakening trend due to uncertainty originating from global sources, especially the United States (US).

“It is important to continue to maintain the Rupiah so that it does not have an impact on society,” said Erwindo Kolopaking, Director of the Economic and Monetary Policy Department (DKEM) of Bank Indonesia during a media talk in Raja Ampat, at the end of last week.

According to his notes, the rupiah almost touched the level of Rp. 16,000, although it has now strengthened to the level of Rp. 15,600. Since the end of last year (year to date) the rupiah has weakened 0.52%, more than in many comparable countries.

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The biggest culprit behind the weakening of the rupiah is the US. High inflation is expected to mean that the US will continue to raise its benchmark interest rate from the current position of 5.25-5.50% or 525 bps since March 2020.

On the other hand, there was an increase in US bonds or US Treasury to the level of 5%. Every movement in this data and the policies of the Central Bank of the Federal Reserve (The Fed) cause shocks, especially in the financial markets.

Erwin explained that when the rupiah weakens too deeply, the effect will be felt on the prices of goods, especially imported goods.

“Indonesia’s imports are very high. If the rupiah weakens for 1-2 months, entrepreneurs will abstain, but if it continues to be high it will affect prices,” he said.

This then becomes the cause of inflation or what is known as imported inflation. High inflation will drain people’s purchasing power.

Photo: Bank Indonesia
Bank Indonesia claims that the movement of the rupiah this year has been better than emerging peers.

Bank Indonesia (BI) has issued various policies to maintain rupiah stability. One of them is raising the benchmark interest rate or BI 7 days reverse repo rate to 6% in September 2023.

“This is expected to attract inflow,” said Erwin. Apart from also issuing new instruments such as Bank Indonesia Rupiah Securities (SRBI) in September and Bank Indonesia Foreign Currency Securities (SVBI) and Bank Indonesia Foreign Currency Sukuk (SUVBI) in November 2023.

“BI is not silent, it is always innovating to come up with new instruments that can make us more agile in dealing with the underpressure conditions,” said Ramdan Denny Prakoso, Director of the Monetary Management Department (DPM) of Bank Indonesia on the same occasion.

BI, continued Ramdan, will maintain the rupiah exchange rate in accordance with fundamentals. BI is always on the market directly monitoring and intervening in the spot, DNDF and government bond markets so that rupiah volatility is maintained.

“We want to avoid weakening too quickly resulting in panic conditions in the money market,” he said.

[Gambas:Video CNBC]

Appearance of Containers and Cardboards Containing 10 M of New Money

(haa/haa)

2023-11-13 00:15:42
#Whats #downside #Rupiah #continuing #weaken #BIs #explanation

November 13, 2023 0 comments

Business

Strengthening Fundamental Factors Predicted to Keep Rupiah Strong Against US Dollar until 2024

by Ethan Caldwell November 7, 2023

written by Ethan Caldwell

Jakarta –

The strengthening of the United States dollar (US) against the rupiah is predicted to be temporary. In fact, it is predicted that the US dollar will never touch IDR 16,000 from this year to 2024.

What is the reason?

“I don’t see any reason why the rupiah could be more than Rp. 16,000. Optimism is around 15,355 and ranging from 15,300 to 15,500 by the end of this year. Next year the direction is Rp. 15 thousand. We don’t see any direction for the rupiah to weaken further (against the dollar) next year,” said Joshua at the “Exclusive Media Afternoon Tea & The Launch of Permata Institute for Economic Research” agenda at the St Regis Hotel, Central Jakarta, Tuesday (7/11/2023).

Josua explained that the strengthening of the US dollar against the rupiah occurred due to two causes, market sentiment and fundamentals. Market sentiment factors include geopolitical issues such as Hamas-Israel and the tightening of the Fed’s higher for longer policy or global interest rates which remain at high levels for a longer period of time.

However, he said that the sentiment factor was essentially temporary and not prolonged. Simply put, said Joshua, the sentiment factor arises because of concern. The weakening of the rupiah against the dollar was due to sentiment alone.

“So because sentiment comes from FED interest rates and geopolitics, the sentiment factor will not last long. We see that fundamental factors are in control,” he explained.

Meanwhile, for fundamental factors, Joshua said that Indonesia has a strong fundamental position. He said that Indonesia’s inflation rate is still maintained at below 4% with predicted inflation at 2.89% at the end of 2023 and 3.17% at the end of 2024. This is still in line with Bank Indonesia’s target which ranges from 1.5% to 3. 5%.

Apart from that, Joshua explained that Indonesia’s debt rating is still high in a number of credit rating agencies or international debt rating agencies. This means that Indonesia’s ability to manage debt is still optimal.

In the eyes of investors, this is also a sign that Indonesia is a place that has good prospects for investing. According to him, there is no reason for investors to stop investing in Indonesia.

“America has had its debt rating downgraded due to debt management problems. Meanwhile, so far Indonesia’s debt management has been relatively well managed. The debt to GDP ratio has been relatively maintained at under 60%, even this year it is below 40%,” he explained.

In this way, Joshua also believes that Indonesia’s fundamental factors are still strong. In the midst of a good fundamental position, according to him, the rupiah currency could actually become stronger and more stable against the US dollar in the coming years.

“If investment is good, from the perspective of foreign investors why should they think more pessimistically? That is what causes us to say that the weakening of the rupiah is due to sentiment factors. This means that throughout next year, there is no strong reason for the rupiah to weaken further against the dollar due to fundamental factors,” he stressed.

Inaugurates New Research Institute

In this agenda, Joshua also announced that Permata Bank is now developing a new division. Permata Economic Research has now evolved into the Permata Institute for Economic Research (PIER). He explained that this institution was tasked with facilitating analysis and research on various economic trends and issues. Joshua said PIER was formed to help customers and the public to strengthen their financial decision-making process.

“The 2024 Economic Outlook that we released today is part of this effort,” concluded Joshua.

(hns/hns)

2023-11-07 15:21:51
#predicted #dollar #reach #IDR

November 7, 2023 0 comments

Business

US Dollar to IDR Exchange Rate Strengthens in Jakarta

by Ethan Caldwell October 31, 2023

written by Ethan Caldwell

Jakarta –

Exchange rate dollar AS the rupiah strengthened this morning. Uncle Sam’s currency rose 25 points (0.16%) to Rp. 15,889.

Quoting RTI data, Tuesday (31/10/2023), the US dollar was at its highest level at IDR 15,894 and the lowest at IDR 15,864. The US dollar strengthened against the rupiah daily to monthly.

Furthermore, the movement of the US dollar against other Asian currencies was mixed. Uncle Sam’s currency weakened slightly against the Chinese yuan 0.02% to 7.3.

Then, the movement of the US dollar against the Japanese yen strengthened 0.31 points (0.21%) to 149. Finally, the movement of the US dollar against the Singapore dollar rose 0.14% to 1.3.

Meanwhile, the Composite Stock Price Index (IHSG) finally reversed direction. This morning the JCI opened with strengthening.

Quoting RTI data, Tuesday (31/10/2023), this morning the JCI opened up 9 points (0.14%) to 6,745. The LQ45 index opened up 0.05% to position 889.

JCI was at its highest level at 6,747 and its lowest was 6,737. A total of 203 million shares were traded this morning with a value of IDR 156 billion.

(ara/ara)

2023-10-31 03:11:30
#Dollar #Strengthens #Rupiah #IDR

October 31, 2023 0 comments

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