April 10, 2025 | 08:37 pm
TEMPO.CO, Jakarta - The rupiah closed stronger today, Thursday, April 10, 2025, at Rp16,823 per U.S. dollar, after Trump declared a 90-day pause on reciprocal tariffs.
Based on Bloomberg data, the rupiah strengthened by 49 points from the previous day, Wednesday, April 9, when it closed at 16,872 per U.S. dollar. Stock market analyst Ibrahim Assuabi predicts that the rupiah will strengthen tomorrow. "Rupiah will fluctuate but close stronger at tomorrow’s trading, at the range of 16,750–16,830 per U.S. dollar," he said in a written statement on Thursday.
Bank Indonesia's Jakarta Interbank Spot Dollar Rate (Jisdor) data confirms today’s rupiah stronger closing, with Rp16,779 per U.S. dollar compared to the previous day's trading at 16,943 per dollar.
The rupiah’s strength parallels the weakening U.S. dollar index. According to Ibrahim, there are several sentiments that affect the exchange rate movements, including the waning expectations of a U.S. recession. "Concerns about a recession eased after Trump announced a 90-day extension to enforce his latest round of reciprocal tariffs," he said.
Meanwhile, the market remains cautious about Trump's policy agenda, particularly due to the president's recent change in stance regarding tariffs. Ibrahim said that the escalating trade war with China also presents ongoing economic barriers to the U.S., considering that China remains its main trading partner.
Short-term economic prospects remain uncertain because the minutes of the Fed’s March meeting showed policymakers' concerns over higher inflation and slower growth.
The looming trade war between the U.S. and China has intensified after Trump raised import tariffs on Chinese products by up to 125 percent. China retaliated on Wednesday by imposing 84 percent levies on American goods.
The global economic uncertainty is affecting Indonesia's economy, especially in the fluctuation of the rupiah exchange rate. "Although the government and Bank Indonesia continue to intervene in the market to stabilize its currency, the government and BI have limitations in addressing economic uncertainties."
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