Nilai tukar rupiah turun Rp16.641 per USD yang merupakan level terlemah sejak krisis keuangan di 1998. Pelemahan yang terjadi sejak akhir tahun 2024 lalu disinyalir imbas kekhawatiran yang meningkat atas kondisi fiskal Indonesia di bawah Pemerintahan Presiden Prabowo Subianto.
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00:00INDONESIAN FISCAL SITUATION
00:05We are still in IDX, and in this closing session, we will talk about the choice of shareholders.
00:09The exchange rate rose to US$16,641 per dollar, which is the lowest level since the financial crisis in 1998.
00:19The weakness that occurred since the end of last year,
00:23was indicated by the increased concern about the Indonesian fiscal condition under President Prabowo Subianto.
00:35The exchange rate rose to the weakest level against the US dollar since the financial crisis in 1998
00:41due to increasing concerns about the fiscal condition.
00:46The exchange rate rose to US$16,641 per dollar on March 25, 2025,
00:53which is the weakest level since June 1998.
00:57The rupee has fallen by more than 3% this year,
01:00making it one of the worst-performing currencies in the developing countries.
01:05The weakness of the exchange rate occurred since the end of 2024,
01:09especially because the Indonesian market lost its interest in the eyes of global investors.
01:13This condition is driven by concerns about the economic steps of President Prabowo Subianto
01:18as well as concerns about the expansion of military roles in civil society.
01:22The steps of Prabowo's populist policy since taking office in October 2024,
01:26including the free lunch program, which spends about US$30 billion per year,
01:31pushes the budget deficit to approach a 3% limit on domestic products.
01:37In addition, there is concern about the repatriation of seasonal dividend payments
01:42by foreign investors in the capital market.
01:44The movement of the rupee is also influenced by global sentiment,
01:46such as the policy of US President Donald Trump.
01:50The weakness of the exchange rate also occurred along with the decline of the Indonesian stock market,
01:54where it has been noted that foreign funds must be issued more than US$2 billion.
02:00The index of the price of joint stocks has weakened 12.98% since the first trading in 2025.
02:06Foreign net sales in the stock market have already touched Rp33 trillion until Monday, March 24, 2025.
02:14Indonesian bonds also performed worse than US government bonds this year.
02:20In the middle of the rupee crisis,
02:21the Bank of Indonesia has been monitoring various interventions in the foreign currency market,
02:26domestic non-deliverable forward,
02:28and the bond market to stabilize the rupee.
02:32The Director of Monetary Management and Securities Assets of the Bank of Indonesia, Fitra Yusliman,
02:37explained that the Central Bank is intervening bravely and moderately
02:41to ensure a balanced team and foreign currency demand,
02:44as well as maintaining confidence in the domestic market.
02:48The Bank of Indonesia is linked to the weakness of the rupee,
02:50especially with global uncertainty, including Donald Trump's tariff,
02:53and the policy of the Bunga Devet tribe, which is potentially more aggressive.
02:56As a note, the current rupee level is the lowest since the 1998 monetary crisis.
03:02During the crisis, due to the five-year pandemic,
03:04the lowest rupee level has reached Rp16,575 per US dollar.
03:09While during the 1998 monetary crisis,
03:12the rupee reached Rp16,650 per US dollar on July 17, 1998.
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