Rupiah Nears 17,000 per US Dollar, Market Players Say Investment Direction Still Determined...
Jakarta, Aktual.com — Kerry Rusli, Director and Head of Investment Banking at PT Semesta Indovest Sekuritas, stated that the direction of the domestic financial market is still influenced by wars and global sentiment. He made this comment as the rupiah traded around Rp17,000 per US dollar during Friday morning’s session (10/4/2026).
According to Refinitiv data, the rupiah opened stronger at Rp17,065 per US dollar. However, the Garuda currency then reversed to weaken to Rp17,110 per US dollar and briefly touched Rp17,115 per US dollar intraday.
According to Kerry, external factors remain the primary concern for market players in reading the rupiah’s movements as well as the domestic stock market. “From my perspective, the movement in the US dollar exchange rate is partly influenced by war factors,” he said when met by Aktual.com in the Main Hall of the Indonesia Stock Exchange (BEI) building, Jakarta.
He added that global political and economic developments are still being closely monitored because they affect market directions, including investor interest. As long as external uncertainties have not subsided, the rupiah is seen as likely to fluctuate around the current level.
Furthermore, Kerry views the resolution of geopolitical conflicts as capable of driving a correction in the US dollar and opening room for the rupiah to strengthen. On that basis, investors are said to still be awaiting global developments before increasing risk exposure in the domestic market.
Amid these pressures, retail investor interest in initial public offerings is still evident. Market players assess that the response to stocks newly listed on the Indonesia Stock Exchange remains fairly stable.
Nevertheless, he cautioned that market conditions are not yet fully robust because transaction values and volumes are still declining year-to-date. This situation makes his side more cautious in evaluating companies suitable for listing on the exchange.
He also emphasised that he does not want to force targets for new stock listings in an unstable market. “If it’s not yet suitable, we suggest developing outside the exchange first,” Kerry stated.
In addition to monitoring exchange rates, Kerry assesses that cost pressures on certain sectors do not necessarily impact all issuers equally, as each has strategies to maintain revenue and margins. He also conveyed that the market is now awaiting the results of the MSCI review in May, hoping that Indonesia maintains its position in the emerging market group.