The rupiah opened weaker against the US dollar on Monday morning at 18,102 per dollar, down 13 points, or about 0.07 percent, from the previous close of 19,089 per dollar, according to Bloomberg spot data. Doo Financial analyst Lukman Leong attributed the move to a stronger dollar after US Non-Farm Payrolls data beat expectations. He expected the rupiah to trade between 18,100 and 18,150 during the day.
Central bank cites Middle East and US policy
Bank Indonesia Governor Destry Damayanti pointed to several pressures on the currency. She cited escalation of geopolitical conflict in the Middle East, continued monetary tightening in the United States and global investor sentiment toward developing-country assets. Her remarks were made at a press conference on Tuesday, 3 November, after the KSSK IV 2026 meeting.
Lukman Leong said hopes for peace in the Middle East remain strong and could limit the rupiah’s weakness.
Reserves and trade support the currency
Indonesia’s foreign exchange reserves stood at US$146.3 billion at the end of September 2026, enough to cover 5.2 months of imports. The international adequacy standard is three months.
The trade surplus reached US$10.61 billion in January to September 2026. Foreign portfolio investment recorded a net outflow of US$80 million in the third quarter. Net inflows of US$40 million were recorded up to 23 October, bringing the cumulative total for January to that date to US$13.23 billion.
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