Rupiah Slips as Oil Gains Stoke Import Cost Worries

2026-07-15 05:32 By Farida Husna 1 min. read

The Indonesian rupiah dipped to around IDR 18,080 per U.S.

dollar on Wednesday after briefly firming below IDR 18,000 in the prior session.

The decline came as persistent gains in crude oil prices renewed pressure on the rupiah by heightening concerns over Indonesia's energy import bill as a net oil importer.

Traders also turned cautious ahead of Bank Indonesia's policy meeting next week after policymakers raised rates by a total of 100 bps between May and June to defend the currency.

The central bank is expected to remain vigilant as forex reserves stayed near a two-year low despite a slight gain in June.

At the same time, concerns over weaker domestic activity in Q2 mounted amid sluggish manufacturing and slower consumer spending after higher non-subsidized fuel prices.

Still, losses were capped as the dollar index eased further after softer U.S.

inflation data reduced bets of a near-term Fed rate hike.

Additional support came after S&P affirmed Indonesia's investment-grade rating.



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