Rupiah Plunges to 17,300 per US Dollar
The rupiah exchange rate broke through the 17,200 level per US dollar on Thursday morning, 23 April 2026. The rupiah weakened compared to Wednesday’s trading, 22 April 2026, which closed at 17,180 per US dollar.
Citing data from Trading Economics, by 09:50 the rupiah exchange rate was recorded at 17,295 per US dollar. The rupiah even briefly breached 17,307 per US dollar on Thursday at 09:50.
Director of PT Traze Andalan Futures, Ibrahim Assuabi, stated that the rupiah surpassing 17,300 has exceeded initial expectations. “It is highly likely that by the end of April next week, it will breach 17,400 per US dollar,” he said in an official statement on Thursday, 23 April 2026.
Ibrahim noted that this situation is influenced by external factors, specifically the conflict in the Middle East. This week’s meeting between the US and Iran, facilitated by Pakistan, failed to reach an agreement because Iran did not attend the negotiations. “Because America has already violated weapons rules by seizing an Iranian tanker passing through the Strait of Hormuz,” he said.
In yesterday’s trading, Indonesia’s currency weakened in line with Bank Indonesia’s decision to hold the benchmark interest rate, or BI Rate, at 4.75%. Citing an official broadcast, Bank Indonesia Governor Perry Warjiyo stated that this decision remains consistent with efforts to enhance the effectiveness of the interest rate structure adjustment strategy for monetary operations instruments. This is particularly aimed at strengthening the stabilisation of the rupiah exchange rate against the impact of deteriorating global economic conditions due to the war in the Middle East.
Bank Indonesia’s Jakarta Interbank Spot Dollar Rate (Jisdor) data shows that the rupiah currency on Wednesday, 22 April trading was recorded at 17,179 per US dollar. The dollar value has consistently been in the 17,000 range since the beginning of this month.
Economist and Professor at Andalas University, Syafruddin Karimi, stated that the rupiah’s weakening could lead to rising prices of imported goods and gradually push inflation higher. If the rupiah remains around 17,000 per US dollar for a long time, the public will feel direct pressure on living costs,” he said.
That pressure, according to Syafruddin, will intensify because global energy prices remain high. Brent crude oil futures contracts rose above $102 per barrel on Thursday, 23 April 2026.