Weakening IDR

[pantaiema]

People often mention that the IDR exchange rate fluctuates, up and down against major currencies. While that’s true in the short term, over the long run, the trend is clear it has been consistently upward. Just look at historical data on this graph.

Then there's the elephant in the room: the IDR Re-denomination. No one knows when it will happen, but eventually, someone will have to pull the trigger. Broadly speaking, this could put significant pressure on the currency and potentially lead to hyperinflation, especially for a country which has not been backed up by a solid plan and sufficient resources to mitigate this risk..

View attachment 4788

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It is the same pattern for EUR/IDR, GBP/IDR, AUD/IDR trending upward

 

[Helpful Herbert]

The IDR has been weakening again recently. Now it just hit 16850/$, can't be too long before it hits 17,000.
The main reasons seem to be rising Indonesian inflation levels, and a much lower tax take than expected last year.

 

[Helpful Herbert]

Now it's at 17,400.
Apparently the government has a plan to stop the fall...

 

[centurion]

Now it's at 17,400.
Apparently the government has a plan to stop the fall...

"Government has a plan..." sounds promissing.

 

[snpark]

 

[Helpful Herbert]

Plan currently not working too well ...

 

[Balifrog]

Plan currently not working too well ...

Take out 3 zeros...will make it look less bad ?

 

[snpark]

 

[Balifrog]

My pension is up about 20% thanks to the weakening IDR.
Bad thing is butter, cheese, cream, Jack Daniel and wine are up also.....

 

[centurion]

View attachment 5536

In BCA counter this morning 17.540

 

[centurion]

My pension is up about 20% thanks to the weakening IDR.
Bad thing is butter, cheese, cream, Jack Daniel and wine are up also.....
View attachment 5537

Maybe they will start chasing you foreign retirees for tax now if you feel you have too much money.

 

[serious_fun]

Bad thing is butter, cheese, cream, Jack Daniel and wine are up also.....

I don't notice much inflation on groceries here in JaBar.

 

[Helpful Herbert]

Food prices haven't gone up because the government is not passing on any of the increase in fuel costs (yet). However this is also creating a big hole in the country's budget which is another reason why the rupiah is weakening.

 

[harryopal1]

If I were to send Aus dollars to my BCA account they would exchange for IDR 12,372. I use Wise and send IDR and the Wise rate today is 12,532,766 for the Aus$. It adds up with a large amount.

 

[snpark]

If I were to send Aus dollars to my BCA account they would exchange for IDR 12,372. I use Wise and send IDR and the Wise rate today is 12,532,766 for the Aus$. It adds up with a large amount.

Shame you can't use the JCo cheat code, walk in with a dozen glazed for the money changer girls, get the VVIP rate 20500 not 20400 for Euro (example) it makes a difference on $10 or $20k, worth the price of the donuts anyway lol

 

[Balifrog]

I don't notice much inflation on groceries here in JaBar.

80% of the stuff I buy is imported...

 

[Balifrog]

Maybe they will start chasing you foreign retirees for tax now if you feel you have too much money.

Plenty other places in the world with good weather, nice beaches and pretty girls.

 

[snpark]

Plenty other places in the world with good weather, nice beaches and pretty girls.

Thats the pink tax