Rupiah Slips but Eyes First Weekly Gain in 4 Weeks

2026-11-06 04:47 By Farida Husna 1 min. read

The Indonesian rupiah weakened to around IDR 18,130 per U.S.

dollar on Friday, reversing gains in the prior two sessions as the dollar index firmed ahead of October U.S.

jobs data.

The currency also tracked losses across Asian peers amid shifts in regional forex markets driven by global risk sentiment and tech-sector volatility.

Locally, elevated oil prices continued to weigh on the rupiah by raising import costs and straining fiscal conditions, given Indonesia's status as a net oil importer.

Corporate dollar demand added pressure, as major firms, including state-owned enterprises, needed to meet offshore debt obligations, settle energy import bills, and fund capital expenditure.

Still, the rupiah remained on track for a modest weekly gain, the first rise in four weeks, lifted by October forex reserves reaching a seven-month high.

Sentiment also drew support from stronger-than-expected Q3 GDP growth, reinforcing views that Indonesia could achieve its 2026 growth target of around 5.4%.



News Stream
Rupiah Slips but Eyes First Weekly Gain in 4 Weeks
The Indonesian rupiah weakened to around IDR 18,130 per U.S. dollar on Friday, reversing gains in the prior two sessions as the dollar index firmed ahead of October U.S. jobs data. The currency also tracked losses across Asian peers amid shifts in regional forex markets driven by global risk sentiment and tech-sector volatility. Locally, elevated oil prices continued to weigh on the rupiah by raising import costs and straining fiscal conditions, given Indonesia's status as a net oil importer. Corporate dollar demand added pressure, as major firms, including state-owned enterprises, needed to meet offshore debt obligations, settle energy import bills, and fund capital expenditure. Still, the rupiah remained on track for a modest weekly gain, the first rise in four weeks, lifted by October forex reserves reaching a seven-month high. Sentiment also drew support from stronger-than-expected Q3 GDP growth, reinforcing views that Indonesia could achieve its 2026 growth target of around 5.4%.
2026-11-06
Rupiah Firms Further After Strong GDP Data
The Indonesian rupiah hovered around IDR 18,080 per U.S. dollar on Thursday, up for a second straight session as the dollar index continued to fall, with traders remaining focused on the implications of Democratic wins in the U.S. midterm elections. Locally, sentiment found support from stronger economic data, with Q3 GDP growth accelerating to 5.47% yoy, beating expectations on resilient private consumption and solid manufacturing output. The 2026 state budget targets 5.4% growth, although Finance Minister Suahasil recently indicated that expansion could slightly top the target, reaching 5.5%. Meanwhile, Bank Indonesia's two-stage reserve requirement reduction for commercial banks took effect on Nov. 1, lowering the ratio to 8% from 9%, with a further cut to 7% scheduled for Dec. 1. The measures are expected to inject around IDR 190 trillion into the banking system to support lending without compromising rupiah stability. Investors now await October forex reserves data due Friday.
2026-11-05
Rupiah Stays Weak Near IDR 18,130 Ahead of GDP Release
The Indonesian rupiah traded around IDR 18,130 per U.S. dollar on Wednesday, remaining near that level since last week and struggling to strengthen toward the 18,000 mark despite the dollar index falling to a five-week low. The greenback weakened as traders monitored incoming U.S. midterm election results, with early polls pointing to a potentially strong performance by Democrats. Domestic concerns continued to weigh on sentiment, as Finance Minister Suahasil Nazara lowered the 2026 growth projection to 5.4%–5.5% from 5.6%–6%, ahead of Q3 GDP data due Thursday. Growth is expected to slow further yoy from 5.29% in Q2. Meanwhile, higher oil prices, rising imports, and volatile export earnings added to fiscal and external pressures. On the policy front, Bank Indonesia said its currency interventions had been effective, while Governor Destry reaffirmed the central bank's commitment to maintaining an active market presence, with greater reliance on NDFs to reduce costly spot interventions.
2026-11-04