Rupiah Under Pressure, Singapore Dollar Approaches Rp14,000 Level

Jakarta, CNBC Indonesia - Pressure on the rupiah against the United States dollar has also spread to the currency of neighbouring country Singapore. According to Refinitiv data, in trading on Monday (6/7/2026) at 14.00 Western Indonesia Time, the rupiah was observed to have weakened by 0.17% to Rp13,911 per SGD. With this position, the rupiah is weakening again and approaching the psychological level of Rp14,000 per SGD. This level is a focus for the market because it was previously breached in early June 2026. The last time the rupiah moved above Rp14,000 per SGD was on 9 June 2026, when the Garuda currency closed at Rp14,020 per SGD. Prior to that, the rupiah had also breached this psychological level intraday for the first time on 29 May 2026. Pressure on the rupiah occurred in line with the Garuda currency’s weakening against the US dollar. At 13.44 Western Indonesia Time, the rupiah weakened 0.31% to Rp18,000 per US$, again touching the psychological level last occupied on 9 June 2026. Apart from external factors, pressure on the rupiah also came from the domestic front after Indonesia’s trade balance recorded another deficit. The Central Statistics Agency (BPS) previously recorded that Indonesia’s trade balance experienced a deficit of US$1.61 billion in May 2026, ending a 72-month consecutive surplus streak.