Rupiah Opens Weaker at Rp17,930 per US Dollar Amid Strong Greenback

Jakarta, CNBC Indonesia - The rupiah exchange rate opened weaker against the United States dollar on Friday (24/7/2026) ahead of the end of the trading week. The rupiah opened down 0.22% at Rp17,930 per US dollar, compared to the previous session’s close of Rp17,890. Meanwhile, the US dollar index (DXY) was seen slightly lower by 0.06% at 101.392 at 09.00 Western Indonesia Time, after strengthening 0.32% on Thursday. The rupiah’s movement towards the weekend remains overshadowed by global dollar dynamics. Despite the slight morning correction, the DXY is hovering near a three-week high after breaching the 101 level. The dollar’s earlier strength was supported by a surge in oil prices and a rise in US Treasury yields, reigniting concerns that global inflationary pressures will persist longer than expected. Oil prices at Thursday’s close surged back above US$100 per barrel for the first time since May, driven by Houthi attacks on two Saudi Arabian oil tankers in the Red Sea. The attacks mean the Middle East conflict now threatens two major global oil trade routes simultaneously: the Strait of Hormuz and the Bab el-Mandeb Strait. US President Donald Trump also promised severe military punishment against Iran and the Houthi group. Inflationary pressures are also coming from US trade policy. The Trump administration will impose new tariffs of 10% and 12.5% on goods from 60 trading partners accused of weak enforcement of forced labour bans. Indonesia is among the countries subject to the 10% tariff, alongside India, Malaysia, Canada, the United Kingdom, Mexico, Pakistan, and Bangladesh. This new tariff replaces a temporary global 10% tariff that expires this Friday. The US government has previously stated that for countries with existing trade agreements with Washington, the tariff will not cause import duties to exceed agreed limits. The combination of rising oil prices and global trade tensions is fuelling inflation fears, pushing up US Treasury yields and maintaining the appeal of dollar-denominated assets, which in turn limits the room for appreciation of other currencies, including the rupiah.