Rupiah Opens Weak, US Dollar Hits Rp17,860

The Rupiah exchange rate came under pressure again at the start of trading on Tuesday (22/09/2026). The ‘Garuda’ currency opened weaker against the US Dollar, continuing the decline seen in the previous session.

According to Refinitiv data, the Rupiah opened at Rp17,860/US, representinga0.20 after weakening by 0.56%.

Meanwhile, the US Dollar Index (DXY), which measures the strength of the greenback against six major world currencies, was observed to be stagnant at 100.425 as of 0.90:00 WIB. The DXY held this level after gaining 0.21% in the previous trading session.

The Rupiah’s movement today is expected to be influenced by both domestic and international sentiments. In the domestic market, attention is focused on the Bank Indonesia (BI) Board of Governors Meeting (RDG), which commenced today and will run until Wednesday (23/09/2026).

The decision regarding the benchmark interest rate, or BI Rate, is scheduled to be announced tomorrow. This announcement will be the first for Destry Damayanti since her inauguration as the definitive Governor of Bank Indonesia on 2 September.

Based on market consensus, BI is expected to maintain the BI Rate at the 5.75% level. The deposit facility and lending facility rates are also expected to remain unchanged at 4.75% and 6.5%, respectively.

During the August RDG, BI maintained the benchmark interest rate at 5.75%. Destry, who was serving as the Acting Governor of BI at that time, stated that the decision was in line with efforts to maintain Rupiah stability amidst global volatility, keep inflation within the target of 2.5±1%, and support economic growth.

Externally, the US Dollar continues to receive support after the Federal Reserve (The Fed) raised interest rates and signalled the possibility of further tightening. According to CME FedWatch, the market is pricing in approximately a 55% probability that The Fed will raise interest rates again in October, up from around 43% a week ago.