Inp.polri.go.id - Jakarta. Minister of Finances Sri Mulyani Indrawati said  that the rupiah’s depreciation beyond Rp16,300 per U.S. dollar is driven by U.S. policies.

Speaking at the March 2025 edition of the state-budget APBN KiTa press conference on Thursday (13/3/2025), she noted that the rupiah ended 2024 at Rp16,162 per dollar, averaging Rp15,847 throughout the year. By March 10, 2025, it had weakened to Rp16,340, with a year-to-date average of Rp16,309.

“Since January, especially after President Donald Trump’s inauguration, his executive policies have triggered global turmoil, reflecting in the rupiah’s exchange rate,” Minister Sri Mulyani explained, as quoted by antaranews.com.

Meanwhile, Indonesia’s 10-year government bond yield fluctuated due to global factors, reaching 6.88% on March 10, with a year-to-date average of 6.98%.

Fitch Ratings reaffirmed Indonesia’s ‘BBB’ credit rating with a stable outlook but warned of fiscal deficit risks. Market analysts also highlighted concerns over U.S. trade policies and China’s slowing import demand, which could further impact Indonesia’s economic outlook.

(mg/inp/pr/nm)