Airlangga: Rupiah Weakening Not Unique, Other Currencies Also Falling

7 hours ago 2

TEMPO.CO, Jakarta - Coordinating Minister for Economic Affairs Airlangga Hartarto addressed the rupiah’s decline on Tuesday afternoon, when it closed at Rp17,105 per U.S. dollar, highlighting that the weakening is not unique to Indonesia.

“It’s not just the rupiah; other currencies are experiencing similar pressures,” Airlangga told reporters at the Presidential Palace Complex in Jakarta on Tuesday.

The rupiah fell 70 points, or 0.41 percent, from Monday’s close of Rp16,980 per dollar.

Currency and commodities analyst Ibrahim Assuaibi attributed the decline to heightened geopolitical risks in the Middle East.

“Investors are preparing for potential escalation between the U.S. and Iran ahead of the deadline set by President Donald Trump for Iran to reopen the Strait of Hormuz. Disruptions to tanker traffic in recent weeks have tightened supply expectations and increased risk premiums across oil markets,” Ibrahim said in a statement from Jakarta on Tuesday.

Iran has rejected the U.S. proposal for a 45-day ceasefire and gradual reopening of the Strait of Hormuz, which was part of broader negotiations on lifting sanctions and reconstruction. Tehran instead demands a permanent end to hostilities, binding guarantees against future attacks, sanctions relief, and compensation for damages.

Ibrahim noted that Trump reiterated the firm Tuesday deadline, warning that noncompliance could trigger U.S. strikes on Iranian infrastructure, including power plants and bridges, and emphasizing the risk of a rapid escalation.

The standoff has already disrupted global energy flows, pushing oil prices higher and fueling concerns over inflation, which could complicate monetary policy decisions. Investors are also awaiting critical U.S. inflation data due Friday, expected to offer guidance on the Federal Reserve’s interest rate outlook.

Meanwhile, Bank Indonesia’s Jakarta Interbank Spot Dollar Rate (JISDOR) also moved lower, reaching Rp17,092 per dollar from Rp17,037.

Read: Rupiah Hits Record Low, Bank Indonesia Says Will 'Maintain Stability'

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