Rupiah Opens Stronger, US Dollar at Rp16,980
Jakarta, CNBC Indonesia - The rupiah opened stronger against the US dollar on Tuesday morning’s trading (31/3/2026), amid a slight correction in the US dollar on the global market.
According to Refinitiv data, the rupiah opened trading in the green zone, appreciating slightly by 0.03% to Rp16,980 per US dollar. This strengthening came after the previous trading session on Monday (30/3/2026), when the rupiah closed weaker by 0.15% at Rp16,985 per US dollar.
Meanwhile, the US dollar index (DXY), which measures the greenback’s strength against six major world currencies, was observed weakening this morning. At 09:00 WIB, the DXY fell 0.15% to 100.358. Although corrected, the index’s position remains at a high level after reaching 100.61 in Monday’s trading, its highest since last May.
Today’s rupiah movement is expected to still be shadowed by external factors, particularly the intensifying US-Israel war against Iran, which continues to drive spikes in global oil prices. This situation has led market players to avoid risk assets and shift funds to safe-haven assets, including the US dollar.
This condition is reflected in the US dollar’s performance, which recorded significant strengthening throughout March. The dollar index is even heading for its largest monthly gain since July 2025, with an increase of around 2.9% this month.
This means demand for the dollar remains very strong amid growing concerns over risks of a global economic slowdown.
Market pressure increased again after US President Donald Trump warned on Monday that Washington would destroy Iran’s energy facilities and oil wells if Tehran does not reopen the Strait of Hormuz. On the other hand, Iran deemed the US peace proposal unrealistic and launched missiles at Israel again.
Negative sentiment also came from reports that a Kuwaiti oil tanker anchored in Dubai was attacked by Iran. This incident has further triggered rises in oil prices and heightened market concerns over global energy supply disruptions.
US Federal Reserve Chair Jerome Powell has actually dampened speculation of an interest rate hike in the near term. He emphasised that the US central bank is still taking a wait-and-see approach and that long-term inflation expectations remain stable.
That statement temporarily pressured yields on short-term US bonds but was not enough to weaken the dollar, as the currency remains sought after as a safe asset amid deteriorating prospects for global economic growth.