The rupiah weakened to Rp 18,170 per US dollar on Wednesday morning, while the Indonesian stock index, the IHSG, slipped 0.28 percent to 5,251 at 09:38 WIB. Analysts pointed to both domestic and foreign pressures on the currency, including moves in the US dollar index and world crude oil prices, which weigh on state FX reserves.
Pressures on the currency
Elvan Chandra Widyatama, an FX analyst at CNBC Indonesia, linked the rupiah’s weakness to a mix of external and local factors. He pointed in particular to the US dollar index and to crude oil prices, both of which strain the reserves the state holds in foreign currency.
Equity markets were also under pressure. Sentiment tied to MSCI was cited as a driver of foreign selling in Indonesian shares.
Outlook through end-2026
Widyatama expects the rupiah to trade between Rp 17,800 and Rp 18,200 per US dollar through the end of 2026. The range sits on either side of the morning level of Rp 18,170.
He sees room for the currency to strengthen over that period. The outlook was given in a broadcast dated 28 October 2026.
Related: Rupiah slips to Rp 18,170 as IHSG falls 0.28% in morning trade · Rupiah slips to Rp18,105 as BI says it stays in market
