Rupiah has the potential to weaken amid risk-off sentiment

JAKARTA - The rupiah exchange rate on Tuesday, March 3, 2026 is expected to weaken against the US dollar.

To note, quoting Bloomberg, on Monday, March 2, the spot rupiah exchange rate closed down 0.48 percent to Rp16,868 per US dollar.

Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of the Bank Indonesia (BI) closed down 0.41 percent to the price level of Rp16,848 per US dollar.

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

He added that this weakening was influenced by market sentiment which tended to be risk off due to the escalation of conflicts in the Middle East region.

"The rupiah is expected to still have the potential to weaken against the US dollar amid sentiments that are still risk off in general by the escalation in the team," he told VOI, Tuesday, March 3.

However, he added that Bank Indonesia (BI) is expected to be active again in carrying out interventions to limit pressure and hold back the weakening of the rupiah.

"However, BI is expected to be active again in intervening and limiting weakness," he said.

Lukman estimates that the movement of the rupiah on Tuesday, March 3, 2026 will be in the range of Rp16,800-Rp16,950 per US dollar.