Rupiah Opens Weaker at Rp 17,988 Despite BI Reporting Rise in June Foreign Reserves

The rupiah was transacted at Rp 17,988 per US dollar in the spot market on Wednesday morning, weakening by 8 points or 0.04 percent from the previous position of Rp 17,980 per US dollar. This occurred even as the Jakarta Interbank Spot Dollar Rate (Jisdor) set by Bank Indonesia placed the rupiah at Rp 17,988 on Tuesday, strengthening 11 points from Rp 17,999 on Monday. Doo Financial Futures analyst Lukman Leong said the rupiah had initially strengthened in response to data showing Indonesia’s foreign exchange reserves rose for the first time in six months. Bank Indonesia reported that the reserve position at the end of June 2026 reached US$145.6 billion, a slight increase of US$700 million from US$144.9 billion at the end of May 2026. The increase was primarily driven by tax and service revenues, occurring alongside government external debt payments and BI’s stabilisation measures in response to heightened global financial market uncertainty. The reserve position is equivalent to 5.5 months of imports or 5.4 months of imports and government external debt service, well above the international adequacy standard of three months of imports. However, Lukman noted that investors remain in a wait-and-see mode, anticipating domestic retail sales and consumer confidence data, as well as the release of the Federal Open Market Committee meeting minutes.