The exchange rate of the rupiah strengthened by 0.15% or 24 points to Rp 15,531 per US dollar in Friday morning trading (17/11). The day before, the rupiah was at Rp 15,555 per US dollar.

Woori Saudara Bank Analyst BWS Rully Nova said the strengthening of the Garuda currency occurred after the US released unemployment data. The figure increased by 13,000 to 231,000, higher than the estimated 220,000.

Therefore, he predicts that the rupiah will strengthen today in the range of Rp 15,490 to Rp 15,540 per US dollar. "Influenced by external factors from the US," said Rully, quoted from Antara.

He also sees positive sentiment from the meeting between Chinese President Xi Jinping and US President Joe Biden yesterday. One result is the possibility of reducing economic sanctions on China. "This will have an impact on increasing global trade volume," he said.

Over the past week, US economic data has worsened. Starting from the credit rating of the US by Moody's changing from stable to negative and estimates of a slowing US economy marking Uncle Sam's entry into a soft landing period.

As for domestic sentiment, there is no latest news except for Indonesia's trade balance, which has returned to a surplus for the 42nd consecutive time.

The Central Statistics Agency (BPS) recorded Indonesia's trade balance in goods in October 2023 with a surplus of US$ 3.48 billion. This figure increased by US$ 0.07 billion compared to the achievement in September 2023 (month to month/mtm). However, it decreased by US$ 2.12 billion compared to the achievement in the same period in 2022 (year on year/yoy).