Rupiah Strengthens to Rp 17,318 as Market Questions Q1 Economic Growth Data

Jakarta, VIVA – The rupiah exchange rate against the US dollar is predicted to remain volatile but closed weaker in trading today.

Based on data from the Jakarta Interbank Spot Dollar Rate or Jisdor BI, the rupiah rate against the US dollar stood at Rp 17,405 on Wednesday, 6 May 2026. That position weakened by 20 points from the previous rate of Rp 17,425 on Tuesday’s trading, 5 May 2026.

Meanwhile, in spot market trading on Thursday, 7 May 2026 until 09:01 WIB, the rupiah was traded at Rp 17,318 per US dollar. That position strengthened by 69 points or 0.40 percent from the previous level of Rp 17,387 per US dollar.

Economic and money market observer, Ibrahim Assuaibi, said that the government, through Finance Minister Purbaya Yudhi Sadewa, stated that Indonesia’s economy is beginning to show accelerated growth after recording positive performance in Q1-2026.

The achievement of 5.61 percent economic growth indicates that the national economic trend is starting to move in a stronger direction compared to previous periods.

“This acceleration is not yet fully understood by market players, who instead continue to show concerns and tend to withdraw funds from the capital market,” said Ibrahim in his daily research on Thursday, 7 May 2026.

Therefore, the government will maintain this growth momentum in subsequent quarters through various follow-up policies. Coordination with Bank Indonesia (BI) is also being strengthened, particularly in maintaining financial system liquidity.

In addition, the government is preparing an additional stimulus package to boost economic activity in the near future. With these steps, the government hopes that economic growth acceleration can continue and provide positive impacts on business activities and market confidence going forward.

However, many economists are questioning the Q1 2026 economic growth calculation result of 5.61 percent. One of them is the Consumer Confidence Index (IKK) data released by Bank Indonesia in March 2026 at 122.9 basis points, or down compared to January 2026 at 127.0 basis points.

“The rupiah is volatile but closed weaker in the range of Rp 17,380-Rp 17,420,” he said.

For information, the market responded positively to the statement by US President Donald Trump, which indicated the possibility of a peace agreement that could be reached to end the war with Iran. Although there has been no direct reaction from Tehran, where it was still very early on Wednesday morning.