Rupiah Movements in 2026: From Rp16,600 to Rp17,700

The rupiah has come under increasing pressure from the US dollar in recent times, extending the depreciation trend of 2026. Refinitiv data shows, in trading on Tuesday (19 May 2026) at 11:00 WIB, the rupiah at Rp17,720 per US.Thatlevelistherupiah’sweakestin2026todateandcontinuesthetrendofbreakingthepsychologicallevel.Comparedwiththeendof2025, therupiahhasweakenedquitesubstantially.OnWednesday(31December2025)therupiahwasrecordedatRp16, 670perUS. Thus, from the start of the year to date, the rupiah has weakened from Rp16,670 per US$ to Rp17,720 per US.Inotherwords, therupiahhasweakenedbyabout6.30.[sic – preserved as translated, though logically a depreciation occurred] In January, the rupiah remained within the Rp16,600s to Rp16,900s per US.Themonth’shighestclosinglevelforJanuary2026wasrecordedonTuesday(20January2026), whentherupiahclosedatRp16, 945perUS. Entering February, pressure on the rupiah eased somewhat. The local currency moved within the Rp16,700s to Rp16,800s per US.Bymonth‑end, therupiahremainedbelowthepsychologicalRp17, 000perUS level. Pressure reappeared in March. The rupiah slowly moved closer to the Rp17,000 per US$ level. At the end of March, the position of the rupiah was closer to that level. The Rp17,000 per US$ level was finally breached on Monday (6 April 2026). At that time, the rupiah closed for the first time in 2026 at Rp17,030 per US.Afterthat, therupiahremainedaboveRp17, 000perUS until the end of April. As the month changed, the depreciation deepened. The rupiah moved from Rp17,210 per US$ on Tuesday (28 April 2026) to Rp17,275 per US$ on Wednesday (29 April 2026), then Rp17,305 per US$ on Thursday (30 April 2026). Entering May, the rupiah weakened again. On Tuesday (5 May 2026), the rupiah was at Rp17,410 per US.Aweeklater, onTuesday(12May2026), therupiahtouchedRp17, 490perUS. In mid-May, the rupiah briefly traded at Rp17,460 per US$ on Wednesday (13 May 2026). The depreciation continued on Monday of this week (18 May 2026) when the rupiah closed at Rp17,640 per US$ or 1.03% weaker, the deepest daily depreciation so far this year. CNBC Indonesia Research