Rupiah Projected to Reach Rp 17,300 as Iran Opens and Closes Strait of Hormuz

JAKARTA, KOMPAS.com - The rupiah exchange rate is projected to remain under pressure at the start of the week. The rupiah could reach the level of Rp 17,300 per US dollar on Monday (20/4/2026), despite the Strait of Hormuz being temporarily opened and then closed again in a short span. At the close of trading on Friday (17/4/2026), the rupiah approached the level of Rp 17,200 per US dollar. This weakening trend is assessed as not yet abating. “Well, this could mean that the rupiah will break through the Rp 17,300 level next week,” said currency and commodity analyst Ibrahim Assuaibi on Sunday (19/4/2026). On the global side, the movement of the US dollar index is expected to remain limited. The support level is around 97.150, while the resistance is at the psychological level of 100.00. “The US dollar index over the week is likely to be traded at 97.150, that’s the support, the resistance at 100.00. I repeat, for the dollar index, the support is 97.150, then the resistance, the highest price is at 100.00,” he explained. Uncertainty also stems from developments in the Strait of Hormuz. In the last 24 hours, Iran temporarily opened the route before closing it again as the ceasefire with the United States approaches its end. The opening statement briefly drove oil prices down by up to 10 percent in a few hours. However, the situation quickly changed when uncertainty about the continuation of the ceasefire resurfaced. US President Donald Trump stated that talks are going well but provided no certainty. “Maybe I won’t extend it, so there will be a blockade and unfortunately we’ll have to start dropping bombs again,” he said. An Iranian military officer even expressed readiness to face continued conflict. “If the war starts again, we will use missiles with a production date of May 2026,” said General Mohammed Naqdi. “We can stop oil production, but we don’t want to cause disruptions to the world, so we act with patience,” he added.