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In 2024, the average exchange rate from U.S. dollars to Indonesian rupiah amounted to approximately 16,162, meaning that one U.S. dollar could buy 16,162 Indonesian rupiah. During the surveyed period, the Indonesian rupiah exchange rate against the U.S. dollar fluctuated and tended to depreciate. 

Inflation in Indonesia

Indonesia's inflation rate has risen in the past few months due to rising food prices and airfares. The annual inflation rate in June 2022 was the highest in the past few years. This value finally passed Indonesia's central bank's inflation target range for that year, between two and four percent. However, with the ongoing COVID-19 pandemic and the Ukraine-Russia war, the inflation rate increase in Indonesia is still relatively low compared to other countries, showing a strong economy.

Balance of trade in Indonesia

Following Russia's invasion of Ukraine, Indonesia has seen growth in trade, particularly for coal, palm oil, and minerals. Coal exports were briefly prohibited at the beginning of the year to secure domestic supplies, but they quickly resumed and reached record highs in March 2022. With this rising trade and steady development, Indonesia, the largest economy in Southeast Asia, is also expected to attract more foreign investment, lowering inflation and increasing the country's currency exchange rate.