JAKARTA - The rupiah exchange rate is projected to strengthen on Monday, April 20, although its movement is still overshadowed by global uncertainty.
Citing Bloomberg data, the spot rupiah on Friday, April 17, 2026 closed down 0.29 percent to Rp17,189 per US dollar.
In line with this, the Bank Indonesia's Jakarta Interbank Spot Dollar Rate (Jisdor) also fell 0.27 percent to Rp17,189 per US dollar.
Doo Financial Futures analyst Lukman Leong assessed that the potential strengthening of the rupiah was driven by the government's policy to raise the price of non-subsidized fuel oil (BBM).
This step is considered capable of reducing pressure on the State Budget (APBN).
"The rupiah has the potential to strengthen against the US dollar following the government's move to raise the price of non-subsidized fuels, which is considered to reduce the burden on the state budget," Lukman told VOI.
However, he reminded that there was a global sentiment that was still holding back the strengthening of the rupiah, especially related to geopolitical uncertainty in the Middle East region, especially the Strait of Hormuz.
On the other hand, market participants still tend to be wait and see waiting for the results of negotiations between the United States and Iran, as well as the decision of the Bank Indonesia Board of Governors (RDG BI) on Wednesday, April 22.
"Investors are also still inclined to wait and see the results of the US-Iran negotiations on Monday and the RDGBI on Wednesday," he said.
Lukman estimates that the rupiah will move in the range of Rp17,100-Rp17,250 per US dollar in today's trading.
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