Indonesian Rupiah weakens past 18,000 per US Dollar

The Indonesian rupiah weakened significantly on Monday, October 26, 2026, breaching the psychological level of 18,000 per US dollar. During afternoon trading, the currency fell 0.30% to reach 18,135 per US dollar.

The depreciation is attributed to rising geopolitical tensions in the Middle East, which have driven global oil prices higher. Brent crude surged to 116.72 US dollars per barrel, while West Texas Intermediate (WTI) rose to 103.27 US dollars per barrel. Market anxiety is fueled by reports of potential military escalations involving Iran, Israel, and the United States, alongside reports of attacks on vessels in the Gulf and Strait of Hormuz.

Bank Indonesia Governor Destry Damayanti stated that the central bank is closely monitoring market movements to maintain exchange rate stability. Damayanti noted that while the volatility is part of market dynamics, the bank is working to identify the root causes and ensure supply and demand for foreign exchange remain balanced.