Rupiah and IHSG Close Weaker Today

The exchange rate of the rupiah and the Composite Stock Price Index (IHSG) closed weaker in trading today, Monday, 11 May 2026. The rupiah closed 32 points weaker at Rp17,414 per US dollar. Meanwhile, the IHSG closed 0.92% lower at 6,905.6.

Director of PT Traze Andalan Futures, Ibrahim Assuaibi, stated that the rupiah’s weakening was influenced by rising geopolitical risks following US President Donald Trump’s rejection of a proposal from Iran. “This geopolitical tension is occurring ahead of Trump’s scheduled visit to China this weekend, where he is expected to meet Chinese President Xi Jinping in Beijing,” Ibrahim said in a written statement on Monday, 11 May 2026.

Domestically, Bank Indonesia’s (BI) April 2026 Consumer Survey shows that public confidence in the national economic conditions remains in the optimistic zone. This is reflected in the Consumer Confidence Index (IKK) for April 2026, which stood at 123.0, a slight increase from 122.9 in March 2026.

Meanwhile, in the stock market, 251 stocks rose, 442 fell, and 125 were unchanged. The LQ45 Index also corrected by 1.26% to 668.63. Based on RTI Business data, the trading value today was Rp20.53 trillion with a volume of 41.47 billion shares. The transaction frequency was recorded at 2.82 million times.

Equity Analyst at PT Indo Premier Sekuritas (IPOT), Hari Rachmansyah, assessed that the IHSG’s movement this week will be influenced by the rebalancing or adjustment of the Indonesian stock index by Morgan Stanley Capital International (MSCI).

“The MSCI Indonesia rebalancing scheduled for 12 May 2026 is unlikely to introduce new entrants but still has the potential to trigger shifts in stock weights that could affect the overall market direction,” Hari said in a written statement on Monday, 11 May 2026.

According to him, the rebalancing agenda has the potential to trigger portfolio rotations that could create short-term volatility in large-cap stocks.