Rupiah Still Under Pressure, Weakens to Around Rp 16,900 per US Dollar in Early Morning Trading

Jakarta — The rupiah’s exchange rate weakened again in spot market trading on the morning of Wednesday 11 March 2026. The rupiah opened at Rp 16,900 per US dollar, representing a 0.08 per cent depreciation compared to the previous day’s closing position of Rp 16,886 per dollar. The rupiah’s weakness occurred as the majority of Asian regional currencies also moved into negative territory. The Philippine peso recorded the deepest depreciation in Asia, declining 0.65 per cent, followed by the Malaysian ringgit, which weakened 0.19 per cent, and the South Korean won, which declined 0.16 per cent. The New Taiwan dollar fell 0.05 per cent, whilst the Singapore dollar dropped 0.04 per cent. The Chinese yuan weakened marginally by approximately 0.006 per cent against the US dollar. In contrast, the Japanese yen achieved the strongest gains in Asia, appreciating 0.05 per cent against the US dollar, whilst the Hong Kong dollar also strengthened slightly by 0.01 per cent.

Currency analyst Lukman Leong of Doo Financial Futures estimated that the rupiah would remain under pressure against the US dollar amid renewed market concerns regarding potential disruptions to global crude oil supplies. These concerns have intensified as the conflict in the Middle East has triggered uncertainty about the stability of global energy distribution routes, particularly in regions that serve as major oil trading hubs.

“The rupiah is expected to weaken against the US dollar amid renewed concerns about disruptions to global crude oil supplies,” Lukman told Kompas.com. Rising energy prices typically strengthen the US dollar, as global investors tend to seek safer assets.