Rupiah Weakens to Rp 17,349 per US Dollar as Fed Sentiment Pressures Market

REPUBLIKA.CO.ID, JAKARTA — The rupiah exchange rate against the US dollar weakened by 23 points or 0.13% to Rp 17,349 per US dollar on Thursday morning from the previous close at Rp 17,326 per US dollar. Permata Bank’s Chief Economist Josua Pardede assessed that the rupiah weakened against major global currencies during Wednesday’s (29/4/2026) trading session as investors positioned themselves ahead of the Federal Open Market Committee (FOMC) meeting. “The sentiment of caution is also reflected in the trend of rising US Treasury yields and Government Securities (SBN),” he said in Jakarta on Thursday (30/4/2026). At the April 2026 FOMC meeting, the Fed maintained its policy interest rate in the range of 3.50–3.75%. This decision was accompanied by four dissenting votes, with Stephen Miran supporting a 25 basis point rate cut, while three other members opposed including a signal of easing in the official statement. The Fed conveyed that it continues to monitor the economic implications of developments in the Middle East and is prepared to adjust policy if necessary. “The market views that statement as more hawkish, which drove up US Treasury yields and strengthened the US Dollar Index on Wednesday (29/4/2026),” he said.