Rupiah opens unchanged at Rp18,000 per US dollar

Indonesia’s rupiah started trading at Rp18,000 per US dollar on 19 October 2026, matching its closing level on 16 October, according to Refinitiv data. The unchanged opening followed sharp pressure on the currency in the previous session.

The US dollar index, which tracks the currency against six major counterparts, was also broadly steady at 101.832 at 09:00 Western Indonesia Time.

Indonesia’s benchmark stock index, the IHSG, had fallen 11.32 per cent on 16 October following MSCI’s announcement that it was considering moving the country’s equities from Emerging Market to Standalone Market status. No final decision has been made. Consultation with market participants remains open until 30 April 2027, with a decision due by 30 June 2027 at the latest.

Muhammad Rizal Taufikurrahman, head of INDEF’s macroeconomics department, told CNBC Indonesia on 16 October that investors could cut their exposure before MSCI reaches a decision. He said foreign investors selling shares and buying dollars could put pressure on the rupiah, while deteriorating perceptions of risk could spread to government securities and raise financing costs.