IDR Market Update
23 Mar 2026 • 00:21 GMT
The Indonesian rupiah remains relatively stable against the US dollar, trading near 16965, just 0.8% above its three-month average of 16837. The recent US dollar strength driven by rising tension with Iran has pushed the USDIDR pair slightly higher, but the rupiah has held within a narrow range.
Bank Indonesia continues to actively support the rupiah through interventions in both onshore and offshore markets, aiming to curb excessive fluctuations amid global uncertainties. Additionally, recent measures like the SERAMBI 2026 currency distribution program and fiscal stimulus packages are helping to bolster economic confidence.
Against other major currencies, the rupiah is near recent lows versus the USD and CHF, but remains steady versus the JPY and CAD. The currency's resilience reflects ongoing government efforts to stabilize the economy while global geopolitical tensions keep some volatility in the backdrop. Overall, the rupiah’s current position signals cautious strength, with close monitoring of US dollar moves and geopolitical developments necessary in the coming weeks.
