Market Closing - Tuesday, 27 October 2026
- Jakarta Composite Index (JCI): The JCI closed lower at 5,266.60, compared with the previous session's close of 5,373.09.
- Rupiah: The rupiah weakened against the US dollar, closing at IDR 18,150/USD, compared with IDR 18,105/USD in the previous session.
Domestic Market
The JCI and the rupiah both closed weaker against the US dollar on Tuesday. Key factors contributing to the market downturn included concerns surrounding MSCI (Morgan Stanley Capital International). Uncertainty over MSCI's assessment of share ownership transparency triggered selling pressure, intensifying foreign capital outflows from equities into Indonesian government bonds (SBN) and Bank Indonesia Rupiah Securities (SRBI).
Brent crude oil prices climbed to USD 112 - 115 per barrel, heightening inflationary pressures and the risk of tighter global monetary policy.
Elevated US Treasury (UST) yields and a strengthening US Dollar Index (DXY) also attracted investor funds toward US dollar-denominated assets. US inflation stood at 3.7% in September 2026. Market participants are now awaiting the Federal Reserve's policy decision on 28 October 2026. As of 20 October 2026, the CME FedWatch Tool indicated an approximately 83% probability of the Fed holding rates steady, a 17% probability of a 25-basis-point rate hike, and a near-zero probability of a rate cut.
Global Market
The European Union is planning to introduce safeguard measures to restrict imports of Chinese products across various sectors, including chemicals, furniture, and machinery. The proposed measures, which may include import quotas and tariffs, could be formally introduced as early as Q1 2027. The initiative aims to reduce the EU's trade deficit with China, which reached EUR 360 billion last year, while strengthening domestic industries without triggering retaliatory measures from Beijing that could escalate into a trade war.
Goldman Sachs stated that the Japanese yen has become a more effective hedge against market volatility stemming from developments in artificial intelligence (AI). This reflects changes in Japan's economic policy landscape, which are considered capable of reducing the risk of a sharp yen depreciation when global bond yields rise. These developments reinforce the yen's role as a safe-haven currency amid uncertainty in global financial markets.
Senior security officials from Saudi Arabia, Pakistan, and Türkiye are scheduled to meet with Iranian leaders to ease tensions and revive negotiations aimed at preventing a broader war in the Middle East. The meeting comes amid escalating conflict in Yemen, where Riyadh and Tehran support opposing sides, and follows former US President Donald Trump's remarks suggesting the possible resumption of bombing operations against Iran after the US midterm elections.
Rupiah Outlook
Based on the above developments, the rupiah is expected to trade within the IDR 18,110 - 18,210 per US dollar range today, amid ongoing developments in global geopolitics.
NDF Rate as of 08:30 WIB
IDR 18,190 - 18,200 per US dollar
Indonesia Economic Indicators
| Indicator | Latest Data |
| GDP Growth, Q2 2026 | 5.29% |
| BI Rate (September 2026) | 5.75% |
| Inflation (September 2026, YoY) | 3.28% |
| Foreign Exchange Reserves (September 2026) | USD 146.3 billion |
Sources: CNBC Indonesia, Trading Economics, Bank Indonesia, Reuters.
Closing Exchange Rates - 27 October 2026
| Currency Pair | Closing Rate |
| USD/IDR | 18,150 |
| JPY/IDR | 114.91 |
| SGD/IDR | 14,168 |
Available Foreign Currencies
J Trust Bank - Banknotes (BN) and Telegraphic Transfers (TT)
- 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)
Requirements for Foreign Exchange Transactions Against Rupiah
- Transactions below the applicable threshold: Customers are required to submit a declaration letter for transactions below the threshold, along with a copy of their identification document.
- Transactions above the applicable threshold: Customers are required to submit a declaration letter for transactions above the threshold, supporting underlying transaction documents, a Taxpayer Identification Number (NPWP), and a copy of their identification document.
Contact J Trust Bank Indonesia Treasury Sales
Telephone: (021) 2926-1114 (main line)
- Bintang: 0812 2650 949
- Hanif: 0811 8762 001
- Naomi: 0877 0633 1585
- Ade: 0821 6939 7410
Disclaimer
Although this information has been compiled by PT Bank JTrust Indonesia Tbk (J Trust Bank) from 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. The information contained herein does not guarantee future performance and should not be relied upon as such. All information disclosed herein is subject to change without prior notice. No part of this information may be reproduced in any form without the prior written consent of J Trust Bank.
