Business · Markets · 1 hr ago
Rupiah falls to 18,329 per US dollar as dollar strengthens
The rupiah fell 0.50% to 18,329 per US dollar on Thursday, November 12, according to Bloomberg data.
Bank Indonesia said expectations of higher US interest rates were a major pressure on the currency and others in the region.
Those expectations rose after US inflation data came in higher than expected, strengthening the dollar and lifting the dollar index to its highest level since March 2025.
Higher US bond yields also encouraged investors to pull money from emerging markets.
In Indonesia, concerns about a possible MSCI downgrade of the country’s stock market, domestic economic conditions and higher demand for foreign currency near year-end added pressure.
Indonesia’s foreign exchange reserves stood at US$146.8 billion at the end of October.
Bank Indonesia said it would keep working to stabilise the rupiah through market interventions and purchases of government bonds.
The rupiah closed at 18,329 per US dollar on Thursday, November 12, after weakening 90 points, or 0.50%.
Bank Indonesia said global and domestic factors were affecting the currency.
The central bank said stronger expectations of US interest-rate increases followed inflation data that was higher than expected.
The US dollar index rose to 102.96, its highest level since March 2025.
Domestic pressures included concern about a possible downgrade of Indonesia’s stock-market classification by MSCI and increased demand for foreign currency ahead of year-end.
- Who
- The rupiah and Bank Indonesia are central to the story. BI official Erwin Gunawan Hutapea explained the factors affecting the currency.
- What
- The rupiah closed at 18,329 per US dollar, down 90 points, or 0.50%.
- When
- Thursday, November 12, 2026.
- Where
- Indonesia’s currency and financial markets.
- Why
- Stronger expectations of US rate increases, a stronger dollar, and domestic concerns and foreign-currency demand put pressure on the rupiah.
This story does not have two clearly opposing sides.
Inflation was higher than expected, strengthening expectations of US interest-rate increases and supporting the dollar.
The rupiah closed at 18,329 per US dollar, down 90 points, or 0.50%.
- Rupiah closing rate
- Rp 18,329 per US dollar
- Daily change
- Down 90 points, or 0.50%
- US dollar index
- 102.96, its highest level since March 2025
- Foreign-exchange reserves
- US$146.8 billion at the end of October 2026
What people are saying
The movement of the rupiah and regional currencies in recent days has been mainly influenced by increased expectations of a US rate increase at the December 2026 FOMC meeting and continuing into 2027.
Rising yields on US securities have also encouraged investors to withdraw funds from emerging-market financial markets.