Rupiah Pressured to Rp 17,382 per US Dollar Amid Escalating Middle East Geopolitics

JAKARTA, KOMPAS.com - The rupiah exchange rate in the spot market weakened at the close of trading on Friday (8/5/2026). The Garuda currency depreciated by 49 points or 0.28 percent to the level of Rp 17,382 per US dollar. Currency and Commodities Analyst Ibrahim Assuaibi stated that the rupiah’s weakening was triggered by rising geopolitical tensions between the US and Iran following the outbreak of renewed fighting amid both countries’ efforts to reach a peace agreement. However, discussions regarding Iran’s nuclear programme remain the main unresolved issue. “However, fighting has broken out again between the US and Iran, threatening the fragile ceasefire and destroying hopes for progress in reopening the Strait of Hormuz, the main transit route for oil and gas,” Ibrahim told reporters on Friday afternoon. The situation changed after clashes resumed between the two countries. This condition threatens the sustainability of the ceasefire and dims market hopes for the normalisation of activities in the Strait of Hormuz, the world’s main oil and gas transit route. Iran accused the US of violating the ceasefire that had been in place for a month. Iran’s military also accused the US of targeting Iranian oil tankers, other vessels, and civilian areas around the strait and Iranian mainland. Nevertheless, US President Donald Trump stated that the ceasefire between the two countries remains in effect.