Jakarta, CNBC Indonesia \u2013 The rupiah has yet to move away from the\nRp18,000-per-US-dollar level. It weakened again at the close of trading\non Monday (19 October 2026), amid continued pressure on domestic\nfinancial markets.<\/p>\n
According to Refinitiv data, the rupiah closed 0.17% lower at\nRp18,030 per US dollar, compared with Friday\u2019s (16 October 2026) close\nof Rp18,000.<\/p>\n
Meanwhile, the US dollar index (DXY), which measures the greenback\nagainst six major global currencies, was up 0.10% at 101.936 at 3pm\nWestern Indonesian Time (WIB).<\/p>\n
The rupiah\u2019s movement was still weighed down by concerns over\ndomestic financial-market conditions following MSCI\u2019s announcement that\nit may change the classification of Indonesia\u2019s stock market from\nEmerging Market to Standalone Market.<\/p>\n
The pressure continued during Monday\u2019s trading. The Jakarta Composite\nIndex (JCI) opened 4.31% lower at 4,961.88, with 602 shares declining.\nSeveral large-cap stocks, including BBCA, BBRI and TLKM, also hit the 7%\nlower auto-rejection limit.<\/p>\n
The JCI\u2019s decline deepened to 5.05%, taking it to 4,923.26 by the end\nof the first trading session, reflecting continued strong selling\npressure in the domestic equity market.<\/p>\n
Amid these conditions, the Indonesia Stock Exchange (IDX) was\nscheduled to meet MSCI online at 3.30pm WIB on Monday to seek\nclarification over the planned change to Indonesia\u2019s market status.<\/p>\n
\u201cThis afternoon, we will have an online meeting with MSCI,\u201d IDX\nPresident Director Jeffrey Hendrik told reporters at the exchange\u2019s\nheadquarters.<\/p>\n
Jeffrey said communications with global investors indicated that\nmarket participants had also been unaware of MSCI\u2019s announcement\nbeforehand. The uncertainty could prompt foreign investors to adjust\ntheir portfolios and add to pressure on the rupiah.<\/p>\n
Even so, Bank Indonesia (BI) remains committed to maintaining the\nrupiah\u2019s exchange-rate stability.<\/p>\n
Erwin Gunawan Hutapea, head of BI\u2019s Monetary and Securities Asset\nManagement Department, said the central bank was committed to remaining\npresent in the market to maintain the rupiah\u2019s stability in line with\nits fundamentals, through ongoing intervention.<\/p>\n
\u201cWe will also ensure that market mechanisms function properly.\nInterventions are continuing consistently through Non-Deliverable\nForward (NDF) transactions in offshore markets, spot transactions and\nDomestic Non-Deliverable Forward (DNDF) transactions in the domestic\nmarket, as well as purchases of government bonds (SBN) in the secondary\nmarket,\u201d Erwin said, as quoted on Monday (19 October 2026).<\/p>\n
Erwin said the rupiah was under pressure amid rising global risk-off\nsentiment, which was strengthening the US dollar and weighing on\ndomestic financial markets.<\/p>\n
He said this meant outflows from domestic portfolio assets were\nexpected to continue. \u201cOutflows from domestic portfolio assets are\nexpected to continue,\u201d Erwin stressed.<\/p>\n
Markets are also focused on BI\u2019s Board of Governors Meeting on 20\u201321\nOctober 2026, with the interest-rate decision due to be announced on\nWednesday (21 October 2026).<\/p>\n
At its meeting in September, BI kept its benchmark interest rate at\n5.75%. With the rupiah and domestic financial markets under pressure,\ninvestors are watching this week\u2019s decision, particularly for signals\nabout the central bank\u2019s measures to stabilise the exchange rate.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/rupiah-closes-lower-as-us-dollar-advances-to-rp18-030-1792399850", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }