Rupiah Closes Stronger This Afternoon: What is the Projection for Tomorrow?

JAKARTA - The rupiah exchange rate in the spot market strengthened against the US dollar during trading on Tuesday (24/3/2026). Citing Bloomberg, the Garuda currency appreciated by 99 points or 0.58 percent to the level of Rp16,898 per US dollar. Meanwhile, based on Bank Indonesia’s reference rate (Jisdor), the rupiah also strengthened slightly by 0.04 percent to the position of Rp16,898 per US dollar. Meanwhile, global oil prices also showed sharp movements, although they are currently tending lower. This situation makes the market optimism that briefly emerged after the statement from US President Donald Trump unlikely to last long. With the potential return of market concerns, sentiment has shifted back towards risk-off, where investors tend to avoid risky assets and switch to safer instruments. In this situation, the rupiah exchange rate is expected to face pressure and potentially weaken against the US dollar, with movements in the range of Rp16,850 per US dollar during trading on Wednesday (25/3/2026). In line with this, currency and commodity analyst Ibrahim Assuaibi assessed that the rupiah’s movement is also influenced by domestic interest rate policies. According to him, Bank Indonesia’s decision to maintain the benchmark interest rate at 4.75 percent in this month’s Board of Governors Meeting (RDG) aims to maintain exchange rate stability while supporting economic growth. Ibrahim projected that the rupiah during Wednesday’s trading will move in the range of Rp16,990 to Rp17,075 per US dollar.