Rupiah Predicted to Weaken amid Market Doubts over a Ceasefire

JAKARTA - The rupiah exchange rate on Thursday, April 9, 2026 is expected to move weakly against the US dollar (USD).

To note, quoting Bloomberg, on Wednesday, April 8, the spot rupiah exchange rate closed up 0.55 percent to Rp17,012 per US dollar.

Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of the Bank Indonesia (BI) closed up 0.48 percent to a price level of Rp17,009 per US dollar.

Doo Financial Futures analyst Lukman Leong, predicts that the rupiah exchange rate will move consolidating with a tendency to weaken in a limited manner.

He added that this pressure came from the strengthening of the US dollar, although it still received support from risk-on sentiment in the market.

"The rupiah is expected to consolidate with limited potential for weakness pressured by a rebound in the US dollar but supported by risk on sentiment," he told VOI, Thursday, April 9.

In addition, he added that market participants began to doubt the sustainability of the ceasefire after Iran accused the United States of violating the agreement, referring to Israel's attack on Lebanon.

"Markets are starting to doubt whether the ceasefire can hold, responding to Iran's accusations that the US has violated the agreement, by referring to Israel's attack on Lebanon," he said.

Lukman estimates that the movement of the rupiah on Thursday, April 9, 2026 will be in the range of Rp16,950-Rp17,100 per US dollar.