Rupiah Opens Stronger as US Dollar Drops to Rp17,910 This Morning
The rupiah exchange rate strengthened again against the US dollar at the opening of trading on Wednesday (30/9/2026). The ‘Garuda’ currency continued the recovery formed the previous day.
According to Refinitiv data, the rupiah began today’s trading with an appreciation of 0.28% to the position of Rp17,910/US$.
This strengthening continues the movement seen on Tuesday (29/9/2026), when the rupiah closed up slightly by 0.03% at the level of Rp17,960/US$ after briefly touching Rp18,000/US$. Compared to the previous closing position, the rupiah strengthened by 50 points at this morning’s opening.
Meanwhile, the US Dollar Index (DXY), which measures the strength of the greenback against six major world currencies, was observed to have strengthened slightly by 0.01% to 101.377 at 09:00 WIB.
The DXY continued its gain of 0.17% from the previous trading close.
The rupiah’s movement today is expected to remain influenced by external sentiments, particularly the dynamics of the US dollar in the global market.
The US dollar continues to receive support as market participants await several important economic data points that could provide clues regarding the direction of the Federal Reserve’s (The Fed) interest rates.
Primary attention is focused on the US Personal Consumption Expenditures (PCE) price index for the August period, which will be released on Wednesday local time. This preferred inflation data from the Fed will be followed by the US September labour report on Friday.
Market participants will scrutinise both pieces of data to assess whether the Fed’s hawkish stance remains consistent with US economic developments.
Expectations for interest rate hikes have strengthened again after 10-year US Treasury yields remained above 5%. The market is now pricing in almost a 70% chance that the Fed will raise interest rates at the end of October.
The combination of high bond yields and expectations of monetary tightening keeps dollar-denominated assets attractive. The DXY even touched 101.39 during the previous trading session, its highest level since 28 July.
Nevertheless, pressure on the rupiah is slightly offset by a correction in global oil prices. Brent crude prices fell 0.69% to US$104.56 per barrel after Saudi Arabia resumed operations on the East-West pipeline network and increased oil shipments through the Port of Yanbu in the Red Sea.
These developments have improved the outlook for oil supply from the Middle East region. However, Brent prices remain above US$100 per barrel, meaning concerns regarding global inflationary pressures have not yet fully subsided.