Jakarta – Bank Indonesia (BI) noted that the rupiah exchange rate against the US dollar until February 18, 2025 strengthened by 0.15 percent (ptp), compared to the exchange rate level at the end of January 2024.
BI Governor Perry Warjiyo said, amidst the uncertainty of global financial markets that remained high, the rupiah exchange rate was under control with a tendency to strengthen in February 2025, with BI’s strong policy commitment.
“This development is in line with the consistency of Bank Indonesia’s stabilization policy and is supported by continued foreign capital inflows, attractive yields on domestic financial instruments, and Indonesia’s economic prospects that remain good,” Perry said in a press conference on Wednesday, February 19, 2025.
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With these developments, the rupiah exchange rate against the US dollar weakened 1.06 percent year to date (ytd) from the level at the end of December 2024.
However, the rupiah is relatively stable when compared to the currencies of Indonesia’s main trading partners. Meanwhile, against the group of currencies of developed countries outside the US dollar, it remains in a strengthening trend.
“Going forward, the rupiah exchange rate is predicted to stabilize supported by BI’s commitment to maintain rupiah exchange rate stability, attractive yields, low inflation, and Indonesia’s economic growth prospects that remain good,” he added.
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Perry also mentioned that all monetary instruments will continue to be optimized, including strengthening the pro-market monetary operation strategy through optimizing SRBI, SVBI, and SUVBI instruments, to strengthen policy effectiveness in attracting foreign portfolio investment inflows and supporting rupiah exchange rate stability.
“The strengthening of government policies related to the Foreign Exchange of Natural Resources Export Proceeds (DHE SDA) which will take effect on March 1, 2025 is predicted to support the stability of the rupiah exchange rate going forward,” he said.(*)
