Financial Market Closing - Wednesday, 28 October 2026
- The Jakarta Composite Index (JCI) closed up 0.31% at 5,282.31.
- The rupiah weakened 0.17% to IDR 18,175 per USD.
In Wednesday's trading session, the JCI closed higher, while the rupiah weakened against the US dollar. Market sentiment remained under pressure from the strength of the US dollar, selling pressure in Indonesian government bonds (SBN), and concerns over foreign capital outflows related to MSCI (Morgan Stanley Capital International). Investors also monitored the Federal Reserve's interest rate decision and Bank Indonesia's currency stabilization measures.
Domestic economic news is relatively limited today. Nevertheless, market participants will continue to focus on expectations for regulatory improvements and government initiatives to strengthen Indonesia's equity market, as these developments could influence foreign investor confidence and capital flows.
Global
In the United States, equity markets closed higher on Wednesday. The Dow Jones Industrial Average gained 0.19%, the S&P 500 rose 0.28%, and the Nasdaq Composite advanced 0.27%. The gains followed the US Federal Reserve's announcement that it would maintain its benchmark interest rate.
Overnight, the Federal Open Market Committee (FOMC) announced its decision to hold the federal funds rate at 4.00%, in line with market expectations, although two officials supported a 25-basis-point rate increase. The Fed stated that inflation remained elevated, leaving the door open for further policy adjustments, while Fed Chair Kevin Warsh declined to signal the direction of the next policy move. Markets are pricing in an approximately 80% probability of a rate hike in December. Following the announcement, the 10-year US Treasury yield rose again, potentially lending further support to the US dollar and putting additional pressure on the rupiah.
Regarding global geopolitical developments, tensions between the United States and Iran continued to sustain geopolitical risk after Washington urged several Gulf countries to prepare for the possibility of limited military operations. Any further escalation could weigh on market sentiment and place additional downward pressure on the rupiah.
Market participants will next focus on US economic data, particularly consumer inflation. Core inflation for September is expected to rise to 0.3% month-on-month (MoM) and 3.1% year-on-year (YoY), compared with 0.2% MoM and 3.0% YoY, respectively. Investors will also monitor the US third-quarter GDP release, with economic growth projected at 3.2%, up from 2.2% in the second quarter. Meanwhile, weekly initial jobless claims are expected to increase to 199,000 from 194,000.
Beyond the US economic releases, the European Central Bank (ECB) is scheduled to announce its interest rate decision, with rates expected to remain unchanged at 2.65%. The Bank of Japan (BOJ) is scheduled to announce its monetary policy decision on Friday.
Sources: CNBC Indonesia, Refinitiv, Trading Economics, and the Bank Indonesia website.
NDF Exchange Rate at 09:12 WIB
IDR 18,160 / 18,168 per USD
USD/IDR Forecast for Today
IDR 18,100 - 18,200 per USD
Bank Indonesia Monetary Indicators
| Indicator | Latest Data | Date |
| BI-Rate | 5.75% | 21 October 2026 |
| Consumer Price Index (CPI) Inflation (YoY) | 3.28% | 30 September 2026 |
| Foreign Exchange Reserves | USD 146.320 billion | 30 September 2026 |
Closing Exchange Rates - 28 October 2026
| Currency Pair | Closing Rate | Date |
| USD/IDR | 18,175 | 28 October 2026 |
| JPY/IDR | 115.18 | 28 October 2026 |
| SGD/IDR | 14,173 | 28 October 2026 |
J Trust Bank - Bank Notes (BN) & Telegraphic Transfer (TT) Services
Supported Currencies
- US Dollar (USD)
- Singapore Dollar (SGD)
- Japanese Yen (JPY)
- Euro (EUR)
- Australian Dollar (AUD)
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Requirements for Foreign Exchange Transactions Against the Rupiah
- For foreign exchange transactions against the rupiah with a transaction amount at or below the applicable threshold (≤ threshold), customers are required to submit a declaration letter confirming that the transaction falls below the threshold, along with a copy of their identification document.
- For foreign exchange transactions against the rupiah with a transaction amount exceeding the applicable threshold (> threshold), customers are required to submit a declaration letter confirming that the transaction exceeds the threshold, together with supporting underlying transaction documents, their Taxpayer Identification Number (NPWP), and a copy of their identification document.
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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 provided does not constitute a guarantee of future performance and should not be relied upon as such. All information contained herein is subject to change without prior notice. No part of this publication may be reproduced in any form without the prior written consent of J Trust Bank.
