Rupiah Strengthens 0.47%, US Dollar Exchange Rate Falls to Rp16.855 Level
Jakarta — The Indonesian rupiah closed stronger against the US dollar on Tuesday, 10 March 2026, gaining 0.47% to appreciate to the level of Rp16.855/USD, as the US dollar weakened across global markets.
According to Refinitiv data, the rupiah closed stronger by 0.47% or appreciated to the level of Rp16.855/USD.
This strengthening reversed the weakness from the previous trading session, when the rupiah had touched Rp16.990/USD before ultimately closing weaker by 0.15% at Rp16.935/USD on Monday, 9 March 2026.
During today’s trading, the rupiah demonstrated strength from the opening of the session. The rupiah opened appreciating 0.62% at Rp16.830/USD and moved within the range of Rp16.830/USD to Rp16.890/USD throughout the trading session.
Meanwhile, the US dollar index (DXY) at 15:00 WIB was observed to weaken 0.67% to the level of 98.515.
The rupiah’s strengthening in today’s trading was supported by a combination of external and domestic sentiment.
From the external side, the weakening of the US dollar in global markets was the main factor supporting the rupiah. The US dollar index, which measures the strength of the greenback against six major world currencies, corrected during today’s trading after the previous day had surged sharply due to market concerns over escalation of conflict in the Middle East.
Pressure on the US dollar began to ease after US President Donald Trump, in an interview with foreign media, stated that the war against Iran was already “largely concluded”.
This statement somewhat alleviated investor concerns regarding a prolonged conflict that could potentially disrupt global energy supply and dampen world economic growth.
Previously, the US-Israel war against Iran had shaken global financial markets and triggered a surge in oil prices. This situation had driven investors to seek safe-haven assets, including the US dollar.
However, as some market concerns began to ease, market participants have now reduced holdings of dollar-denominated assets. This condition opened space for the strengthening of other currencies, including the rupiah.
From the domestic front, positive sentiment also came from retail sales data. Bank Indonesia reported that the Real Retail Sales Index (IPR) for January 2026 grew 5.7% year-on-year.
This performance was supported by growth in sales within the cultural goods and recreation group, food, beverages, and tobacco, as well as the clothing subgroup.
Nevertheless, on a monthly basis, retail sales in January 2026 recorded a contraction of 2.7%, in line with the normalisation of consumer spending after the period of national religious holidays (Christmas and New Year).