Rupiah Hits All-Time Low at 17,353 per Dollar
The rupiah exchange rate closed at 17,353 per US dollar on Thursday, 30 April 2026, weakening by 27 points compared to the previous trading day’s close. Yesterday’s trading saw the rupiah weaken and close at 17,326 per US dollar. This is the weakest position for the rupiah in history after reaching its lowest point during the 1998 monetary crisis.
Director of PT Traze Andalan Futures, Ibrahim Assuabi, stated that on Monday’s trading, the rupiah currency is expected to move fluctuatively. “However, it will close weaker in the range of 17,350-17,400 per US$,” he said in a written statement on Thursday, 30 April 2026.
Citing data from Trading Economics, on Thursday the Garuda currency fell past Rp 17,380 per US dollar, declining for three consecutive sessions and sitting near its all-time low. Meanwhile, Bank Indonesia’s Jakarta Interbank Spot Dollar Rate (Jisdor) data showed the rupiah at 17,378 per dollar.
The strengthening of the US dollar is pressuring regional currencies. Ibrahim stated that this condition is influenced by external factors from the unresolved conflict in the Middle East. “US President Donald Trump is preparing for a prolonged naval blockade against Iran,” he said.
Concerns over this scenario are exacerbated by reports of several leading US oil executives meeting with Trump at the White House to discuss how to limit the conflict’s impact on American families. A prolonged naval blockade is likely to prompt Iran to continue blocking the Strait of Hormuz in retaliation. The closure of this shipping route would indicate greater disruptions to global oil supplies.
Negotiations between the US and Iran have largely failed. Trump has extended the ceasefire with Iran indefinitely, with both parties largely rejecting any mediation efforts for talks.
Another sentiment comes from the selection of the US Federal Reserve Governor. Jerome Powell, the current incumbent, will end his term on 15 May. He congratulated Kevin Warsh, Trump’s choice for successor, for passing the first stage in his journey to replace him. However, Jerome said he would remain in office as governor until political pressures ease, adding that the Fed’s independence is at risk.
Meanwhile, domestic sentiment affecting the exchange rate movement is the still high global oil prices. Brent crude oil, currently above US$100 per barrel, is increasing the subsidy burden and is predicted to pressure the 2026 state revenue and expenditure budget (APBN).