Business · Markets · 20 hrs ago
Rupiah weakens to 18,173 per US dollar ahead of Fed meeting
The Indonesian rupiah weakened to 18,173 per US dollar in trading on Wednesday morning.
That was 0.09% weaker than its close on Tuesday, when it ended at 18,156 per dollar.
The movement came as markets awaited the Federal Reserve’s policy decision at a meeting on Wednesday evening, US time.
Currency analyst Lukman Leong said expectations of a tougher Fed stance were supporting the dollar.
He also said high oil prices and foreign investors’ net selling of Indonesian shares were weighing on the rupiah.
Leong expected the currency to trade between 18,100 and 18,200 per dollar on Wednesday.
The rupiah weakened to Rp18,173 per US dollar on Wednesday morning, October 28.
It fell 17 points, or 0.09 percent, from the previous trading close.
Analyst Lukman Leong said expectations of a hawkish Federal Reserve stance were adding pressure ahead of the FOMC meeting.
He also cited high oil prices and net foreign investor selling in Indonesia’s stock market as burdens on the rupiah.
Leong expected the currency to trade between Rp18,100 and Rp18,200 per US dollar that day.
- Who
- The Indonesian rupiah and US dollar. Analyst Lukman Leong commented on the outlook.
- What
- The rupiah weakened to Rp18,173 per US dollar, down 17 points or 0.09 percent from the previous close.
- When
- Wednesday morning, October 28, 2026.
- Where
- Jakarta, Indonesia.
- Why
- The article cited a stronger US dollar and expectations of a hawkish Federal Reserve stance; high oil prices and foreign net selling in Indonesian shares were also cited as pressures.
This story does not have two clearly opposing sides.
The rupiah closed at Rp18,156 per US dollar, down 0.12 percent on the day, while Bank Indonesia’s Jisdor reference rate was Rp18,139.
The rupiah traded at Rp18,173 per US dollar, down 17 points or 0.09 percent from the previous close.
The FOMC meeting was due to take place, with market participants anticipating the Federal Reserve’s policy stance.
- Wednesday morning rate
- Rp18,173 per US dollar
- Change from previous close
- Down 17 points, or 0.09 percent
- Tuesday closing rate
- Rp18,156 per US dollar
- Jisdor reference rate on Tuesday
- Rp18,139 per US dollar
- Analyst’s expected trading range
- Rp18,100–Rp18,200 per US dollar
4 sources
What people are saying
The rupiah is still expected to weaken amid a rise in the US dollar index due to expectations of a hawkish Fed stance at tonight’s FOMC meeting. Still-high oil prices and net foreign investor selling in the domestic stock market are also weighing on the rupiah.