Rupiah Steady as BI Maintains Stability Focus

2026-03-26 05:22 By Farida Husna 1 min. read

The Indonesian rupiah held near IDR 16,900 per dollar on Thursday, little changed from the prior session, as traders awaited key data next week, including March inflation and February trade figures.

Inflation rose to 4.76% in February, a near three-year high and above Bank Indonesia’s target, while January’s imports surged ahead of Ramadan and Eid al-Fitr, weighing on the trade balance.

Currency stability remains a priority, with Bank Indonesia reaffirming intervention and tighter regulations to manage capital flows and curb volatility.

From April 1, forex purchases above USD 50,000 will require documentation, while domestic NDF sales limits will be doubled to USD 10 million to deter speculation.

These steps follow last week’s move to hold rates at 4.75% for a sixth straight meeting after 150bps of cuts since September 2024.

Jakarta also pledged to keep the budget deficit within 3%.

Globally, the dollar index remained firm around 99.6, amid uncertainty over efforts to end the Iran war.



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Rupiah Steady as BI Maintains Stability Focus
The Indonesian rupiah held near IDR 16,900 per dollar on Thursday, little changed from the prior session, as traders awaited key data next week, including March inflation and February trade figures. Inflation rose to 4.76% in February, a near three-year high and above Bank Indonesia’s target, while January’s imports surged ahead of Ramadan and Eid al-Fitr, weighing on the trade balance. Currency stability remains a priority, with Bank Indonesia reaffirming intervention and tighter regulations to manage capital flows and curb volatility. From April 1, forex purchases above USD 50,000 will require documentation, while domestic NDF sales limits will be doubled to USD 10 million to deter speculation. These steps follow last week’s move to hold rates at 4.75% for a sixth straight meeting after 150bps of cuts since September 2024. Jakarta also pledged to keep the budget deficit within 3%. Globally, the dollar index remained firm around 99.6, amid uncertainty over efforts to end the Iran war.
2026-03-26
Rupiah Edges Higher amid Market Reopening and Fiscal Reassurance
The Indonesian rupiah firmed below IDR 16,900 per dollar on Wednesday, rebounding from a brief dip to 16,930 in the prior session, as the dollar index eased amid reports that the U.S. is pursuing talks with Iran to de-escalate the Middle East conflict. Markets also reopened after a week-long Eid break with improved sentiment, supported by Finance Minister Purbaya Yudhi Sadewa’s reassurance that there is no plan to breach Indonesia’s 3% budget deficit cap, with contingency measures reserved for a major crisis. Still, rising energy costs stoke fears of an inflation shock, given Indonesia’s reliance on Middle Eastern oil. Against this backdrop, Bank Indonesia is set to roll out measures on April 1 to curb rupiah speculation: forex purchases above USD 50,000 will require documentation, while domestic NDF sales limits will be doubled to USD 10 million. The central bank last week held rates at 4.75%, underscoring its priority on currency and financial stability.
2026-03-25
Rupiah Weakens Ahead of Market Reopen
The Indonesian rupiah slipped toward IDR 16,920 per dollar on Tuesday, after briefly touching 16,860 in the prior session, as the dollar index strengthened amid heightened Middle East tensions. Domestically, markets will reopen on Wednesday after the Eid holidays, with sentiment seen staying cautious. As a net oil and gas importer, Indonesia remains exposed to rising energy costs. While authorities have pledged to keep subsidized fuel prices unchanged through the festive period, persistently elevated oil prices could eventually force policy adjustments. Inflation climbed to 4.76% in February, a near three-year high and above Bank Indonesia’s 1-1/2%–3-1/2% target range. Still, losses were capped by upcoming measures to curb speculation in the currency, due to take effect on April 1. Last week, the central bank held its benchmark rate at 4.75% for a sixth straight meeting, dropping earlier hints of easing and signaling a more cautious policy stance.
2026-03-24