Rupiah Strengthens on DHE SDA Policy Amid Global Volatility

JAKARTA, KOMPAS.com - The rupiah closed stronger in the spot market on Monday, 1 June 2026. The Indonesian rupiah gained 76 points, or 0.43%, closing at Rp17,805 per US dollar, up from the previous close of Rp17,881. Currency and commodities analyst and Director of PT Traze Andalan Futures, Ibrahim Assuaibi said the rupiah’s strength came amid the implementation of a new policy on foreign exchange earnings from natural resources (DHE SDA) and ongoing global uncertainties. The government now requires natural resource exporters to repatriate 100% of their foreign exchange earnings domestically under Government Regulation No. 21 of 2026. “During today’s afternoon trade, the rupiah closed up 76 points, having earlier gained 95 points to Rp17,805 from the previous close of Rp17,880,” Ibrahim said in his daily research on Monday, 1 June 2026. Additionally, the government has begun implementing a one-stop export policy gradually from 1 June 2026. Although full implementation is targeted for 1 January 2027, the government has provided a transition period until early next year to allow exporters time to adjust. On the other hand, Ibrahim noted that the rupiah’s gains were capped by global sentiment. Ibrahim explained that markets are still monitoring the progress of US-Iran negotiations for a permanent ceasefire, which have not shown significant progress. Concerns have also risen over the security of shipping routes in the Strait of Hormuz, which carries about one-fifth of the world’s oil and gas supplies. These conditions have heightened market concerns over potential global inflation pressures and the possibility of the US Federal Reserve (the Fed) maintaining higher interest rates for longer. “Investors are increasingly shifting focus to the possibility of further US monetary tightening. They had previously expected rate cuts before the war began,” he said. For Tuesday, 2 June 2026, Ibrahim forecasts the rupiah to remain volatile but possibly close weaker in the range of Rp17,800 to Rp17,850 per US dollar.