Rupiah Weakens for Four Consecutive Days, US Dollar Rises to Rp17,680
The rupiah continued its weakening trend against the US dollar.
According to Refinitiv data, at the close of trading on Tuesday (15/9/2026), the rupiah depreciated 0.26% to end at Rp17,685/US$ — its fourth consecutive day of decline.
Throughout the day’s trading, the rupiah consistently moved in the red zone after opening 0.06% weaker at Rp17,650/US.Pressurecontinuedtomount, withtheGarudacurrencyatonepointtouchingitsweakestlevelofthedayatRp17, 703/US.
Meanwhile, the US dollar index (DXY), which measures the greenback’s strength against six major world currencies, was up 0.22% at 99,606 as of 15:00 WIB.
The rupiah’s movement today was shaped by developments both abroad and at home, particularly after Suahasil Nazara was officially sworn in as Finance Minister on Monday (14/9/2026), replacing Purbaya Yudhi Sadewa.
Irman Faiz, Lead Economist at PT Bank Danamon Indonesia Tbk, believes Suahasil’s long experience at the Ministry of Finance could serve as an important asset in maintaining the credibility of state budget (APBN) management.
According to Irman, Suahasil’s track record can minimise risks during the transition period. His background as a technocrat is also seen as capable of maintaining policy and institutional continuity in fiscal management.
“Overall, we expect fiscal policy to remain supportive of growth while maintaining the 3% fiscal rule as the main anchor of credibility,” Irman told CNBC Indonesia on Monday (14/9/2026).
However, domestic news has not been enough to withstand external pressure. The strengthening of the US dollar in global markets continues to narrow the room for the rupiah to appreciate.
The dollar is receiving fresh support from rising demand for safe-haven assets as the conflict in the Middle East drags on. Attacks by the Houthi group against Saudi Arabia and ships in the Strait of Hormuz have once again heightened concerns over global energy supplies.
Brent, the global benchmark crude oil price, has consistently remained above US$100 per barrel — a situation that could raise inflation.
The rise in energy prices has also led market players to grow increasingly convinced that the Federal Reserve (the Fed) will raise interest rates this week.
Based on the CME FedWatch tool, the market is pricing in roughly a 93% chance that the Fed will hike rates at this week’s meeting. That probability has jumped sharply from around 60% last week.
Expectations of a rate hike have made dollar-denominated assets more attractive, once again lifting the greenback. This has added further pressure on emerging market currencies, including the rupiah.