The rupiah exchange rate was once again under pressure against the US\nDollar at the opening of trading on Tuesday (29\/09\/2026). The \u2018Garuda\u2019\ncurrency continued the sharp depreciation experienced the previous\nday.<\/p>\n
According to Refinitiv data, the rupiah began today\u2019s trading with a\nslight decline of 0.03% to the position of Rp17,970\/US,\u2006m<\/em>o<\/em>v<\/em>i<\/em>n<\/em>g<\/em>c<\/em>l<\/em>o<\/em>s<\/em>e<\/em>r<\/em>t<\/em>o<\/em>i<\/em>t<\/em>s<\/em>p<\/em>s<\/em>y<\/em>c<\/em>h<\/em>o<\/em>l<\/em>o<\/em>g<\/em>i<\/em>c<\/em>a<\/em>l<\/em>l<\/em>e<\/em>v<\/em>e<\/em>l<\/em>o<\/em>f<\/em>R<\/em>p<\/em>18,\u2006000\/U<\/em>S<\/em><\/span>.<\/p>\n This weakness follows the movement on Monday (28\/09\/2026), when the\nrupiah depreciated by 0.48% and ended trading at the level of\nRp17,965\/US$.<\/p>\n Meanwhile, the US Dollar Index (DXY), which measures the strength of\nthe greenback against six major world currencies, was observed to have\nstrengthened slightly by 0.01% to 101.209 at 09:00 WIB. This\nstrengthening follows a 0.22% increase in the DXY at the close of the\nprevious trading session.<\/p>\n Pressure on the rupiah occurred as the US Dollar continued to move\nstrongly in the global market. Amidst these conditions, the Governor of\nBank Indonesia (BI), Destry Damayanti, emphasised the importance of\nsynergy between monetary and fiscal policies to maintain exchange rate\nstability.<\/p>\n From a monetary perspective, BI is stabilising the rupiah through\ninterventions in the spot market, non-deliverable forward (NDF), and\ndomestic non-deliverable forward (DNDF) markets.<\/p>\n BI is now reducing its proportion of intervention through the spot\nmarket because such transactions involve direct dollar sales, which can\ndeplete foreign exchange reserves. The proportion of spot intervention\ncurrently accounts for only about 30% of BI\u2019s total interventions.<\/p>\n \u201cIt is approximately 30% of the total interventions we conduct.\nInterventions occur in the DNDF, NDF, and spot markets,\u201d stated Destry\nduring a working meeting with Commission XI of the House of\nRepresentatives (DPR) on Monday (28\/09\/2026).<\/p>\n Previously, BI interventions were more heavily conducted through the\nspot market. However, the development of the DNDF and NDF markets means\nthese two instruments are now considered more effective at dampening\npressure on the rupiah without placing excessive burden on foreign\nexchange reserves.<\/p>\n Nevertheless, Destry acknowledged that pressure on the rupiah does\nnot only stem from financial market movements. There are fundamental and\nstructural issues that require coordination with the government,\nparticularly through the Ministry of Finance and the Financial System\nStability Committee (KSSK).<\/p>\n Therefore, rupiah stabilisation must be accompanied by strengthening\nthe export of goods and services as well as increasing investment. Such\nsteps are necessary to expand the domestic supply of foreign\nexchange.<\/p>\n BI and the government also continue to discuss various programmes to\nboost exports and attract investment, including both direct and\nportfolio investment. This synergy is expected to strengthen rupiah\nstability amidst high pressure from the US Dollar.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/rupiah-opens-weaker-as-us-dollar-rises-to-rp17-970-1790650327",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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