JCI Plummets and Rupiah Pressured to Rp 17,416 per US Dollar

JAKARTA, KOMPAS.com - The Composite Stock Price Index (JCI) and the rupiah exchange rate both weakened in unison at the opening of trading early this week, or on Monday (11/5/2026).

The rupiah in the spot market depreciated by 34 points or 0.20% to the level of Rp 17,416 per United States (US) dollar. This weakening was recorded at 10.51 WIB.

Meanwhile, the JCI moved down 60.746 points or 0.87% to the position of 6,908.649. The index opened at 6,959.943 before being pressured to touch the lowest area at 6,846.632. Meanwhile, the highest level of the JCI in this morning’s trading session was at 6,968.926.

The weakening of the JCI occurred amid the dominance of stocks moving in the red zone. It was recorded that 467 stocks declined, only 204 stocks strengthened, and 134 stocks moved stagnant.

The rupiah has the potential to break through Rp 18,000 per US dollar, in line with the heating up of geopolitical tensions in the Middle East. This condition is seen as weighing on the JCI’s movement.

The JCI experienced sharp pressure in Friday’s trading (8/5/2026). The index closed weakening by 2.86% to the level of 6,969.40.

Stock market observer and Founder of Republik Investor, Hendra Wardana, stated that the weakening occurred amid the renewed increase in geopolitical tensions between the United States and Iran in the Strait of Hormuz.

The index correction also erased most of the previous gains, after the market was again haunted by concerns over disruptions to global oil distribution, a surge in global inflation, and the potential aggressive stance of the US central bank, the Fed.

“This correction also erased most of the previous gains after the market was again haunted by concerns over disruptions to global oil distribution, a surge in global inflation, and the potential aggressive stance of the United States central bank,” said Hendra to Kompas.com on Sunday night (10/5/2026).

Furthermore, the rupiah’s weakening to the Rp 17,382 per US dollar area also worsened market sentiment because it reflects high pressure from capital outflows in emerging markets, including Indonesia.

In Friday’s trading, foreign investors again recorded a net sell or net sale of Rp 485 billion, indicating that global investors are still inclined to reduce exposure to risky assets amid global uncertainty.