Rupiah Closes Weaker, US Dollar Rises to Rp16,885

Jakarta — The rupiah’s value closed weaker against the US dollar on Thursday (12 March 2026) amid the strengthening of the dollar in global markets.

According to Refinitiv data, the rupiah closed trading in negative territory, depreciating 0.12% to Rp16,885/USD. Pressure on the rupiah was already evident from the opening of trading, when the Garuda currency opened 0.15% weaker at Rp16,890/USD.

Throughout Thursday’s trading, the rupiah moved in the range of Rp16,870/USD to Rp16,908/USD.

Meanwhile, the US Dollar Index (DXY) at 15:00 WIB was noted to have strengthened 0.19% to 99.420.

The rupiah’s depreciation on Thursday was largely influenced by external factors, particularly from the United States.

From external factors, the strengthening of the US Dollar Index has limited the appreciation prospects for other currencies, including the rupiah. The increase in the DXY reflects that market participants have resumed pursuing the US dollar amid persistent global uncertainty.

Market sentiment was also influenced by US February inflation data released in line with expectations. Nevertheless, investor attention is currently focused more on crude oil price movements and the potential long-term impact of the US-Israel conflict against Iran on global economic growth.

Market participants remain in a cautious position as Middle East tensions risk disrupting global energy trading and triggering a surge in prices. This risk ultimately keeps the US dollar in demand as a safe-haven asset, whilst simultaneously pressuring emerging market currencies, including the rupiah.