Rupiah Strengthening is Expected to be Limited Due to Escalation of Middle East Conflict

JAKARTA - The rupiah exchange rate on Thursday, June 11, 2021 is expected to strengthen against the US dollar.

To note, quoting Bloomberg, on Wednesday, June 10, the spot rupiah exchange rate closed up 0.63 percent to Rp17,944 per US dollar.

Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of the Bank Indonesia (BI) closed up 0.93 percent to a price level of Rp17,971 per US dollar.

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

According to him, the strengthening of the rupiah is expected to be limited by the escalation in the Middle East and the rise in world crude oil prices.

"The rupiah still has the potential to strengthen against the US dollar, but the strengthening is expected to be limited by the escalation in the timteng and the rise in world crude oil prices," he told VOI, Thursday, June 11.

Lukman estimates that the movement of the rupiah on Thursday, June 11, 2026 will be in the range of Rp17,850-Rp18,000 per US dollar.