Rupiah Edges Slightly Lower to Rp17,660 per US Dollar

The rupiah opened weaker against the US dollar on Thursday, 21 May 2026, trading at Rp17,660 per dollar from Rp17,654 at the previous close. This small depreciation suggested a consolidation in the forex market, as investors adopted a wait-and-see stance ahead of global macroeconomic data and Federal Reserve policy. By midday, the rupiah was expected to remain volatile but within a controlled range, with Bank Indonesia seen staying active in the market to curb excessive volatility. Investors were advised to monitor upcoming US data releases that could trigger a sharp dollar appreciation. The rupiah later closed firmer by 52 points at Rp17,654 per dollar, as BI’s rate rose to 5.25% to support exchange-rate stability. An LPEM UI economist urged Bank Indonesia to raise the rate to 5% to stem depreciation, though Mirae Asset forecast the BI Rate would stay at 4.75%. Earlier, the rupiah opened 33 points weaker at Rp17,630 in the morning of Monday, 18 May 2026. President Prabowo Subianto commented calmly on rupiah depreciation, saying fluctuations do not directly affect rural livelihoods. Ikatan Pengusaha Konveksi Berkarya said the depreciation is most acutely felt by small and medium textile industries, noting 1 USD equal to Rp17,746 on 20 May. On 20 May 2026, the rupiah moved 37 points weaker to Rp17,743 per dollar from Rp17,706 at the close. The day’s market commentary also highlighted analyses of the rupiah trajectory through mid-May. Copyright @ 2026 Media Group - mediaindonesia.