Indonesian Rupiah Weakens Beyond Rp18,000 Against US Dollar
Jakarta. Rupiah weakened past the psychologically important 18,000-per-dollar level on Monday afternoon as the US dollar steadied near a two-week low, with investors scaling back expectations for further Federal Reserve interest rate hikes.
Bloomberg data showed the rupiah depreciated 38 points, or 0.21%, to Rp 18,001 per US dollar in the spot market as of 1:16 p.m. Jakarta time.
Earlier in the day, the currency traded at Rp 17,995 against the greenback.
The dollar remained broadly stable near a two-week low as investors continued to pare expectations of additional Fed tightening, citing from CNBC International.
Separately, OCBC strategists said the decline in the US unemployment rate pointed to a still-tight labor market, which should help keep expectations for tighter Federal Reserve policy intact. They maintained their forecast for the US dollar to appreciate by a moderate 2-3% in the second half of 2026.
Elsewhere in the region, Bloomberg data as of 1:31 p.m. Jakarta time showed the Singapore dollar trading at Rp 13,914, the Japanese yen at Rp 111, the Australian dollar at Rp 12,471, and the euro at Rp 20,561.
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