Rupiah Closes on Spot Market Nearly Touching Rp 17,000 per US Dollar

JAKARTA - The rupiah exchange rate on the spot market depreciated at the close of trading on Monday (23/3/2026). The Garuda currency weakened, nearly touching the level of Rp 17,000 per US dollar.

According to Bloomberg data, the rupiah was pressured by 68 points or 0.40% to the position of Rp 16,996 per US dollar.

Commodity and currency analyst Ibrahim Assuaibi predicts that the US dollar index will move within the range of 98.73 to 101.20 this week.

“In next week’s trading, this dollar index is likely to strengthen again towards 101.20, rather than weaken to 98.73, which is a support area,” said Ibrahim.

According to him, the strengthening of the US dollar is driven by global central bank policies that are still maintaining high interest rates, even tending to raise interest rates amid growing concerns over inflation.

This inflationary pressure is partly triggered by the surge in energy prices, particularly the price of Brent crude oil, which is estimated to move in the range of $110 to $116 per barrel.

In such a situation, central banks tend to maintain tight or hawkish monetary policies to curb the still high rate of inflation.

On the other hand, the escalation of geopolitical conflicts in the Middle East region is also strengthening the position of the US dollar as a safe-haven asset.

Global uncertainty is driving investors to shift funds to instruments based on Uncle Sam’s currency, thereby supporting the strengthening of that currency in the short term.