Rupiah Opens 0.17% Weaker, US Dollar Exchange Rate Rises to Rp17,780
Jakarta, CNBC Indonesia - The rupiah lost some of its momentum after recording gains for four consecutive trading days. The Garuda currency turned weaker against the United States (US) dollar at the opening of trading this morning.
Referring to Refinitiv data, at the opening of trading on Tuesday (11/8/2026), the rupiah depreciated by 0.17% to Rp17,780/US$.
This morning’s weakening occurred after the rupiah recorded sharp gains in the previous trading session. On Monday (10/8/2026), the rupiah closed 0.75% stronger at Rp17,750/US$.
That close extended the rupiah’s strengthening streak, which had been ongoing since 5 August 2026, to four consecutive trading days.
Meanwhile, the US dollar index (DXY), which measures the greenback’s strength against six major world currencies, was observed at 09.00 WIB to have weakened slightly by 0.06% to 99.571. The DXY turned lower after strengthening 0.27% in the previous session.
The rupiah’s movement today will still be influenced by US dollar dynamics in global markets as well as developments regarding the leadership transition at Bank Indonesia (BI) domestically.
The US dollar closed stronger on Monday after oil prices surged more than 4%. The rise in oil prices came after Iran and the US each submitted compensation demands, reducing hopes of reaching an agreement to reopen the Strait of Hormuz in the near term.
The rise in energy prices has reignited concerns about inflationary pressures in the United States. This prompted some market participants to return to the dollar ahead of the July consumer inflation announcement on Wednesday (12/8/2026) US time.
Nevertheless, the dollar’s room for strengthening remains limited by US employment data that was far weaker than expected. The US economy lost jobs in July, while job growth figures for the previous two months were revised sharply downward.
That data reduced confidence that the US central bank (The Federal Reserve/The Fed) will raise interest rates in the near term. The market now prices in a 52% chance of a rate hike in September, down from 67% last week.
Domestically, the market is still observing the nomination of Destry Damayanti as the sole candidate for BI Governor by President Prabowo Subianto.
Minister of State Secretary Prasetyo Hadi said the President has sent a letter to the House of Representatives (DPR) regarding the nomination.
“The name is single, one name, Mrs Destry Damayanti,” Prasetyo told reporters at the Parliament Complex, Senayan, Jakarta, on Monday (10/8/2026).
Destry currently serves as Acting Governor of BI after Perry Warjiyo resigned on 25 July 2026 for personal reasons.
The nomination of a single candidate provides greater certainty regarding the direction of BI’s leadership transition. However, Destry must still undergo the process in the DPR before she can be confirmed as the definitive BI Governor.