Rupiah Holds at Rp 17,000 Per US Dollar; Basic Commodity Prices Could Rise After Eid

JAKARTA — The public faces potential increases in basic commodity prices after Eid 2026 if the rupiah exchange rate remains around Rp 17,000 per US dollar.

The rupiah weakened and touched this level during trading on Monday, 9 March 2026.

Currency and commodities observer Ibrahim Assuaibi believes the government is currently attempting to maintain price stability during Ramadan and Eid through various market interventions.

These measures include providing subsidies and conducting market operations to calm basic necessity prices.

“If we look at the situation now, the government is focused on providing subsidies. Where is the money coming from? Only the government knows. But the government will continue to do this during the fasting month, providing subsidies and intervening in the market to stabilise prices,” Ibrahim told Kompas.com on Monday.

After this period ends, price pressures may emerge if the rupiah exchange rate remains under pressure.

Business operators are likely to begin adjusting prices to cover increased production costs.

One sector that may adjust prices faster is the food and beverage industry.

Ready-to-eat food products are expected to be early indicators of price changes.

“Even though conditions are turbulent at the moment, it is possible that after Eid, prices will begin to rise again. Usually, we would see this reflected in ready-to-eat food prices. So ready-to-eat foods such as Solaria and Pizza will certainly change prices on their own,” Ibrahim said.

Ibrahim attributed the rupiah’s weakness in the early part of the week to US dollar strengthening as the market responded to escalating regional tensions.

“The rupiah weakness is caused by a gap-up this morning against the dollar. The dollar experienced quite significant strengthening as a result of what? The closure of the Strait of Hormuz,” Ibrahim said.