Jakarta. The Jakarta Composite Index (JCI) rose by 22.58 points (0.3 percent) to 7,432 on Friday, nearing its all-time high, as the rupiah strengthened against the US dollar. This rise comes amid positive market sentiment following President Joko Widodo's State of the Nation Address.

The exchange's total transaction value today reached Rp 10.17 trillion, with a trading volume of 18.3 billion shares and 1,022,294 transactions. A total of 331 stocks increased, 225 stocks declined, and 235 stocks remained unchanged.

The Indonesian rupiah appreciated by seven points, or 0.04 percent, to Rp 15,694 against the US dollar from its previous position of Rp 15,700.

"The strengthening of the rupiah at the close of trading today was influenced by positive sentiment among market participants towards the President's State Address, particularly regarding the 2025 State Budget Draft (RAPBN)," Rully Nova, a financial analyst at Bank Woori Saudara, on Friday.

According to him, the RAPBN is expansive yet remains prudent, with a healthy deficit capable of mitigating external risks. Jokowi also projected economic growth to reach 5.2 percent primarily supported by domestic demand.

The 2025 RAPBN macro assumptions include maintaining inflation around 2.5 percent and economic growth at 5.2 percent. The rupiah is expected to trade around Rp 16,100 per US dollar, with a ten-year government bond yield at 7.1 percent. The Indonesian Crude Price (ICP) is projected at $82 per barrel, with oil production expected to reach 600,000 barrels per day and natural gas production at 1.005 million barrels of oil equivalent per day.

The government also aims to reduce the open unemployment rate to 4.5 percent-5 percent in 2025, down from the current 4.8 percent, and decrease the poverty rate to 7 percent-8 percent from the current 9.03 percent.

The Jakarta Interbank Spot Dollar Rate (JISDOR) of Bank Indonesia on Friday depreciated to Rp 15,716 from the previous level of Rp 15,687 per US dollar.

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