Rupiah Stays Weak Near IDR 18,130 Ahead of Q3 GDP Release
The Indonesian rupiah traded around IDR 18,130 per U.S. dollar on Wednesday, remaining near that level since last week and struggling to strengthen toward the 18,000 mark despite the dollar index falling to a five-week low. The greenback weakened as traders monitored incoming U.S. midterm election results, with early polls pointing to a potentially strong performance by Democrats. Domestic concerns continued to weigh on sentiment, as Finance Minister Suahasil lowered the 2026 growth projection to 5.4%—5.5% from 5.6%—6%, ahead of Q3 GDP data due Thursday. Growth is expected to slow further yoy from 5.29% in Q2. Meanwhile, higher oil prices, rising imports, and volatile export earnings added to fiscal and external pressures. On the policy front, Bank Indonesia said its currency interventions had been effective, while Governor Destry reaffirmed the central bank's commitment to maintaining an active market presence, with greater reliance on NDFs to reduce costly spot interventions.
The Indonesian rupiah traded around IDR 18,130 per U.S. dollar on Wednesday, remaining near that level since last week and struggling to strengthen toward the 18,000 mark despite the dollar index falling to a five-week low. The greenback weakened as traders monitored incoming U.S. midterm election results, with early polls pointing to a potentially strong performance by Democrats.
Domestic concerns continued to weigh on sentiment, as Finance Minister Suahasil lowered the 2026 growth projection to 5.4%—5.5% from 5.6%—6%, ahead of Q3 GDP data due Thursday. Growth is expected to slow further yoy from 5.29% in Q2. Meanwhile, higher oil prices, rising imports, and volatile export earnings added to fiscal and external pressures. On the policy front, Bank Indonesia said its currency interventions had been effective, while Governor Destry reaffirmed the central bank's commitment to maintaining an active market presence, with greater reliance on NDFs to reduce costly spot interventions.