Rupiah Strengthens to 17,134 Despite IMF, World Bank, and ADB Cutting Indonesia's Economic Projections

The exchange rate of the rupiah against the US dollar is expected to remain volatile but closed weaker in trading today.

According to data from the Jakarta Interbank Spot Dollar Rate (Jisdor) from Bank Indonesia, the rupiah rate against the US dollar stood at Rp17,141 on Wednesday, 15 April 2026. This position represents a weakening of 6 points from the previous rate of Rp17,135 on Tuesday’s trading, 14 April 2026.

Meanwhile, in spot market trading on Thursday, 16 April 2026, until 09:02 WIB, the rupiah was traded at Rp17,134 per US dollar. This position strengthened by 9 points or 0.05 percent from the previous level of Rp17,143 per US dollar.

Economic and money market observer Ibrahim Assuaibi stated that the International Monetary Fund (IMF) projects Indonesia’s economic growth for 2026 to reach 5 percent. This figure is lower compared to the IMF’s January report, which projected Indonesia’s economic growth to record an increase of 5.1 percent in 2026 and 2027.

Not only Indonesia, the IMF also projects a slowing global economic growth to 3.1 percent in 2026. This is due to the outbreak of war in the Middle East this year, following the economy’s endurance against trade barrier challenges last year.

The IMF is not the only institution lowering Indonesia’s rating. Previously, the World Bank lowered its projection for Indonesia’s economic growth to 4.7 percent in 2026. This figure is lower compared to the World Bank’s projection in October 2025, as Indonesia’s economic growth was forecasted to grow by 4.8 percent.

Meanwhile, the Asian Development Bank (ADB) estimates that Indonesia’s economy will grow steadily at 5.2 percent in 2026 and 2027. Strong domestic demand and infrastructure spending are the main pillars of economic stability in Southeast Asia, particularly Indonesia.

This slowdown is influenced by external pressures, particularly the rise in global oil prices due to the dispute between Iran and the US-Israel, which impacts the blockade of the Strait of Hormuz, as well as increasing risk-off sentiment among investors in international financial markets.

“The rupiah is volatile but closed weaker in the range of Rp17,140-Rp17,180,” he said.

For information, the US Central Command stated in a social media post that the blockade of Iranian ports has been “fully implemented,” and that US forces have “completely halted economic trade entering and exiting Iran via sea.”