Jakarta. Rupiah weakened further on Wednesday, November 12, 2025, as the US dollar strengthened in Asian trade amid uncertainty over the Federal Reserve’s next policy moves.

The local currency closed 30 points lower at Rp 16,724 per US dollar, compared to Tuesday’s close at Rp 16,694. The rupiah had earlier touched Rp 16,729 during intraday trading.

Traze Andalan Futures Director Ibrahim Assuaibi said the rupiah’s decline reflected market doubts about the Fed’s commitment to further rate cuts, with the greenback finding renewed support.

“Investors are also keeping a close watch on the US Supreme Court’s review of President Donald Trump’s trade tariffs, although a ruling is unlikely anytime soon,” Ibrahim said in a written statement on Wednesday.

The market was also focused on developments in the US Congress, where the House of Representatives voted to end the country’s longest-ever government shutdown after the Senate passed a bill to reopen spending. The measure now awaits President Trump’s signature.

“The end of the shutdown will pave the way for the release of more economic data, which could ease uncertainty and strengthen the dollar against the rupiah,” Ibrahim added.

From the domestic front, the rupiah also faced pressure following Bank Indonesia’s projection that Indonesia’s economy would expand by 5.33 percent in 2026, slightly below the government’s target of 5.4 percent set in the 2026 state budget.

The central bank cited global and domestic economic conditions as key factors behind its outlook. The government’s target remains achievable, Ibrahim noted, depending on how quickly fiscal stimulus spending can be realized.