Rupiah Climbs as Cooling US Consumer Data Pressures Greenback

RRI.CO.ID, Jakarta – The rupiah strengthened at the opening of trade in Jakarta on Wednesday, February 11, 2026, rising 36 points, or 0.21 percent, to IDR 16,775 per US dollar from IDR 16,811 previously.

Permata Bank Chief Economist Josua Pardede said investors are awaiting the release of US labor market data, particularly the Non-Farm Payrolls (NFP) report.

“Investors are waiting for US labor market data to get hints about the future direction of Fed policy,” he said in Jakarta on Wednesday, as quoted by Antara.

Quoting Xinhua, Josua said investors have high expectations ahead of the NFP release, seeking clarity on whether the labor market is experiencing significant weakening following disappointing private employment data from ADP last week.

Earlier, the United States reported December 2025 retail sales at 0.0 percent month-to-month, slowing from November and falling short of market expectations of 0.4 percent month-to-month.

“The data signals weaker consumer demand, strengthening expectations that the Fed might maintain accommodative policies and depress the US dollar,” Josua said.

On the domestic front, Bank Indonesia Deputy Governor Destry Damayanti said the central bank still has room to cut its policy rate going forward.

Destry said Bank Indonesia would consider the speed of policy-rate transmission before making any further decisions on rate cuts. She emphasized that any move would remain data-dependent, based on the latest economic indicators under evaluation.

Based on these factors, the rupiah is projected to trade between IDR 16,750 and IDR 16,850 per US dollar. ***