Market Closing - Friday, 23 October 2026
- The Jakarta Composite Index (JCI) closed higher by 0.95% at 5,439.26.
- The Indonesian Rupiah appreciated by 0.03% to close at IDR 18,040 per USD.
Last Friday, both the JCI and the Rupiah closed higher. Following the sharp decline in stock prices in previous sessions, market participants appeared to take advantage of the opportunity to accumulate stocks at discounted prices, leading to increased demand in the equity market. Although the Rupiah managed to appreciate, several global factors this week could potentially exert further pressure on the domestic currency.
Domestic market catalysts are relatively limited this week. Therefore, market participants are expected to focus on developments in global sentiment, including escalating tensions in the Middle East, oil prices, and the US Federal Reserve's monetary policy.
Global
Wall Street closed lower in Friday's trading session. The Dow Jones Industrial Average declined by 1.23%, while the S&P 500 fell by 0.52%. The Nasdaq Composite also closed lower. The market downturn appeared to be driven, in part, by renewed concerns over oil prices, which climbed above USD 100 per barrel.
Market participants will next turn their attention to the outcome of the US Federal Reserve's Federal Open Market Committee (FOMC) meeting, scheduled for Wednesday and Thursday, with the policy announcement expected on Thursday. So far, market expectations suggest that the Fed will maintain its benchmark interest rate at the current level. On the same day, the United States is also scheduled to release its Q3 economic growth data and Consumer Price Index (CPI) inflation figures.
In addition to the United States, the European Central Bank (ECB) will announce its benchmark interest rate decision on Thursday. Market consensus expects the ECB to keep interest rates unchanged. On Friday, the Bank of Japan (BoJ) is also scheduled to announce its monetary policy decision, with interest rates widely expected to remain unchanged.
Based on the aforementioned developments, the Rupiah is expected to trade against the US Dollar in a cautious, wait-and-see mode as market participants await the release of key economic data and major central bank policy decisions later this week.
Today's USD/IDR Trading Range Forecast
IDR 18,050 - IDR 18,150 per USD
Indonesia Economic Indicators
| Economic Indicator | Latest Data |
| Q2 2026 GDP Growth | 5.29% |
| BI-Rate (October 21, 2026) | 5.75% |
| September 2026 Inflation (YoY) | 3.28% |
| Foreign Exchange Reserves (September 2026) | USD 146.3 billion |
Sources: CNBC Indonesia, Trading Economics, Bank Indonesia, Reuters.
Foreign Exchange Closing Rates
| Currency Pair | Closing Rate | Date |
| USD/IDR | 18,040 | October 23, 2026 |
| JPY/IDR | 114.93 | October 23, 2026 |
| SGD/IDR | 14,112 | October 23, 2026 |
Currencies Available for Transactions
J Trust Bank Bank Notes (BN) & Telegraphic Transfer (TT) Services
J Trust Bank provides foreign exchange services for the following currencies:
- US Dollar (USD)
- Singapore Dollar (SGD)
- Japanese Yen (JPY)
- Euro (EUR)
- Australian Dollar (AUD)
- British Pound Sterling (GBP)
- Chinese Yuan (CNY)
- New Zealand Dollar (NZD)
- Hong Kong Dollar (HKD)
- South Korean Won (KRW)
Foreign Exchange Transaction Requirements
For foreign exchange transactions against the Indonesian Rupiah:
- Transactions below the threshold: A Declaration Letter for transactions below the threshold and a copy of the customer's identification document are required.
- Transactions above the threshold: A Declaration Letter for transactions above the threshold, a copy of the underlying transaction documents, Taxpayer Identification Number (NPWP), and identification document are required.
Contact J Trust Bank Indonesia Treasury Sales
Telephone: (021) 2926-1114 (Hunting)
- Bintang: 0812 2650 949
- Hanif: 0811 8762 001
- Naomi: 0877 0633 1585
- Ade: 0821 6939 7410
Disclaimer
Although this information has been prepared by PT Bank JTrust Indonesia Tbk (J Trust Bank) using sources believed to be reliable, J Trust Bank makes no representation or warranty as to its accuracy or completeness and accepts no responsibility for any errors or omissions. Accordingly, the information contained herein does not constitute a guarantee of future performance and should not be relied upon unduly. All information disclosed herein is subject to change without prior notice. No part of this information may be reproduced in any form or by any means without the prior written consent of J Trust Bank.
