Trust and the Exchange Rate

Positive policies and projections of the Indonesian economy are the capital to gain investor trust. This, among others, is seen in the rupiah exchange rate.

KOMPAS/RADITYA HELABUMI

An officer shows US dollar currency at the Bank Mandiri cash center, Jakarta, Tuesday (5/4/2022).

In the middle of 2022, the rupiah exchange rate touched Rp 15,000 per United States dollar. As of 24 January 2023, the rupiah exchange rate strengthened slowly, moving away from Rp 15,000 per US dollar. According to Jakarta Interbank Spot Dollar Rate (Jisdor), the exchange rate on Friday (3/2/2023) was Rp 14,898 per US dollar.

Jisdor, according to the Bank Indonesia (BI) website, is the price of a US dollar spot on the rupiah, which is compiled based on interbank transactions in the Indonesian foreign exchange market. Thus, Jisdor is a market price reference for US dollar-rupiah transactions.