Rupiah Weakens to IDR 17,864 per US Dollar as the Greenback Gains

RRI.CO.ID, Jakarta - The rupiah remained weak against the US dollar at the opening of trading on Tuesday, June 23, 2026. Bloomberg reported that the rupiah opened down 0.12 percent, or 21 points, at IDR 17,864 per US dollar.

At the close of the previous trading day, the rupiah had already fallen 0.22 percent to IDR 17,843 per US dollar. The Indonesian currency continues to face pressure from the strengthening US dollar amid external factors.

“The rupiah is expected to continue weakening against the US dollar, which is strengthening again,” said a currency market analyst at Doo Financial Futures, Lukman Leong. He noted that the dollar’s strength is driven by investor uncertainty over peace negotiations between the US and Iran.

Market participants also anticipate that the Federal Reserve (the Fed) will raise interest rates more quickly this year. However, investors are still awaiting developments in the US core personal consumption expenditures (PCE) price index.

The index will serve as a key indicator for the Fed’s interest rate policy. Market expectations point to two Fed rate hikes, each by 25 basis points (bps), in September and December.

Persistently high inflation in the US underpins these expectations. The country’s inflation rate remains above the Fed’s 2 percent target.

The yield on 10-year US Treasury bonds rose to 4.51 percent, while the yield on 2-year bonds climbed to 4.23 percent.

High yields are limiting the potential for emerging-market currencies to strengthen. “The rupiah exchange rate will move within the range of IDR 17,800–IDR 17,900, with the US dollar index at 101.03–101.04,” Lukman said. (Gusti Panji)