RRI.CO.ID, Jakarta - The US Dollar Index fell after previously reaching 97.8 last Friday, and is now around 97.4. The decline came after the Supreme Court of the United States struck down the tariff increase introduced by President Donald Trump. The court’s decision has so far been positive for the Indonesian rupiah.

In early trading on Monday, 23 February 2026, the rupiah strengthened to around 16,840 per US dollar. After the Supreme Court’s decision, market participants are now watching several key events this week. These include the interest rate decision by the People's Bank of China (PBoC), US consumer confidence data, a speech by President Trump, and weekly US jobless claims.

Overall, there are no major economic events expected this week. The upcoming data is not projected to cause significant changes in global financial markets.

Meanwhile, Indonesia’s benchmark stock index, the Jakarta Composite Index (IHSG), opened higher at 8,334. The index improved amid mixed performance in Asian markets, which showed a slight upward trend.

On the other hand, global gold prices spiked sharply to around $5,160 per troy ounce, or approximately 2.8 million rupiah per gram. Gold gained as investors reacted to uncertainty surrounding US tariff policies and rising geopolitical tensions.

Although the US Supreme Court canceled President Trump’s reciprocal tariff policy, the president is now considering raising global tariffs by 10% to 15%. This move has increased uncertainty and supported gold prices.

In addition, geopolitical tensions in the Strait of Hormuz are escalating. Ongoing disputes between the US and Iran continue to intensify, adding further support to safe-haven assets like gold.

Writer: Gunawan Benjamin (Economist, Islamic University of North Sumatra)