Rupiah Weakens Amid US Dollar Rebound And Domestic Fiscal Concerns

JAKARTA - The rupiah exchange rate in trading Friday, September 19, 2025, is estimated to have the potential to weaken against the United States (US) dollar.

To note, citing Bloomberg, on Thursday, September 18, 2025, the rupiah spot exchange rate closed down 0.55 percent to the level of Rp. 16,527 per US dollar. Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of Bank Indonesia (BI) closed down 0.41 percent to a price level of Rp. 16,498 per US dollar.

Doo Financial Futures analyst Lukman Leong said that the rupiah exchange rate is expected to weaken against the US dollar.

In addition, he assessed that this weakening was driven by the strengthening of the US dollar which is still continuing to rebound, along with the Fed's stance which tended to be less aggressive or less hawkish at the FOMC meeting.

"Rupiah is expected to weaken against the US dollar which is still rebounding by the "less hawkish" attitude of the Fed at FOMC," he told VOI, Friday, September 19.

Lukman said that the US dollar also received support from the unemployment claim data which was lower than expected.

Meanwhile, he said that the pressure on the rupiah also came from concerns regarding the potential fiscal deficit due to the government's stimulus, plans to revise the P2SK Bill, as well as the expectations of cutting interest rates by Bank Indonesia.

"Rupiah itself is still under pressure by the concern of the fiscal deficit from the government stimulus, the plan to revise the P2SK Bill and cut the bung tribe by BI," he said.

Lukman projects that the movement of the rupiah on Friday, September 19, will move in the range of Rp. 16,400 per US dollar to Rp. 16,550 per US dollar.