US Dollar, Singapore Dollar and Ringgit Strengthen Against Rupiah as Money Changer Rates Climb

Jakarta, CNBC Indonesia - The rupiah’s weakness is not only against the US dollar (USD), but also against the Singapore dollar (SGD) and Malaysia’s ringgit (MYR). Several foreign currency exchange services, or money changers, are now quoting buy and sell rates nearly Rp18,000 per USD for US dollars and nearly Rp14,000 per SGD for Singapore dollars. Similarly, the ringgit has pushed the rupiah down, with rates at some money changers reaching Rp4,500 per MYR.

CNBC Indonesia’s monitoring at money changers in Jatinegara, East Jakarta, and Kwitang, Central Jakarta, on Friday (29 May 2026) showed the rupiah weakening against USD, SGD, and MYR.

Alex, a money changer attendant in Jatinegara, said USD buy rates have reached Rp17,930 per USD, with sell rates at Rp18,000 per USD. ‘USD buy rates are now Rp17,930, and sell rates around Rp18,000, depending on the condition of the currency,’ he told CNBC Indonesia on Friday.

For SGD, buy rates at his shop are Rp13,910 per SGD and sell rates at Rp14,010 per SGD. ‘SGD is also high right now, almost Rp14,000,’ he explained.

Similarly, the ringgit’s rate has reached around Rp4,500.

At Kwitang’s Ayu Masagung money changer, buy rates for USD stand at Rp17,825 per USD, with sell rates at Rp18,000 per USD. SGD buy rates are Rp13,950 per SGD and sell rates Rp14,025 per SGD.

A worker at Ayu Masagung said USD and SGD rates continue to fluctuate based on market conditions. ‘Rates keep changing; sell rates may now be Rp18,000 per USD, with buy rates close to that,’ the worker said.

Valutama money changer in Kwitang stated that foreign currency exchange rates are adjusted according to internet rates, particularly Google. ‘We don’t have fixed buy or sell rates like other money changers; we follow internet rates,’ said Sarni, a Valutama attendant. ‘USD and SGD are currently high and volatile, making it difficult to set reference rates,’ she added.

Despite SGD’s rising value, money changers report that demand for SGD remains steady, especially before school holidays when many Indonesians travel to Singapore. However, they are uncertain about the current rate increase’s impact on exchange volumes.

Alex noted that while SGD has become more expensive, it’s unclear if this will reduce exchange volumes. ‘SGD is getting pricier, so there must be some impact, but exchange volumes seem normal for now,’ he said.

Sarni added that the SGD rise could boost demand for investment purposes, as it’s considered a stable currency in Southeast Asia. ‘There will be an impact, probably more demand for asset protection, but the number of exchanges hasn’t risen significantly,’ she said.