Rupiah Expected to Move Sideways Ahead of Fed Chair’s Jackson Hole Speech

RRI.CO.ID, Jakarta - The rupiah strengthened against the US dollar at the opening on Friday, August 28, 2026, but its gains are expected to remain limited as investors await Federal Reserve Chair Kevin Warsh’s speech for signals on the US central bank’s next monetary policy moves.

The rupiah strengthened 26 points, or 0.15 percent, to IDR 17,718 per US dollar at Friday’s opening, compared with IDR 17,744 at the previous close.

“Rupiah is expected to move within the range of IDR 17,675-IDR 17,775 per US dollar,” Permata Bank Chief Economist Josua Pardede said in Jakarta on Friday, August 28, as quoted by Antara.

Citing Anadolu, Warsh is scheduled to deliver a speech at the Jackson Hole Economic Policy Symposium, which brings together central bank officials, economists, financial market participants, academics and government representatives to discuss key economic issues and long-term policy challenges.

Warsh previously participated actively in Jackson Hole, but this will be his first attendance in his capacity as a senior Federal Reserve official.

Market attention is focused on any signals from his speech regarding the future direction of the Fed’s monetary policy ahead of the next Federal Open Market Committee (FOMC) meeting on September 15-16.

The rupiah is also receiving sentiment from the release of the US Personal Consumption Expenditures (PCE) index, which rose 0.2 percent month-on-month, exceeding expectations. Meanwhile, the US core PCE index, which excludes food and energy, increased 0.2 percent month-on-month and 3.3 percent year-on-year.

“This is also linked to energy prices, as global oil prices remain volatile amid still-high geopolitical tensions,” Josua concluded. ***