Previous Trading Session (28 September 2026)
- The Indonesia Stock Exchange Composite Index (IHSG) closed down 1.51% at 6,147.86, compared with 6,247.07 at the close of 25 September 2026.
- The Indonesian Rupiah (IDR) closed down 0.53% at IDR 17,970 per USD, compared with IDR 17,885 per USD at the close of 25 September 2026.
Indonesia’s financial markets came under pressure in Monday’s trading session, with both the IHSG and Rupiah weakening. The pressure was driven by a stronger US Dollar and expectations of higher US Federal Reserve interest rates. The IHSG was also affected by adjustments to IDX trading regulations, as well as concerns over inflation and rising oil prices amid ongoing Middle East tensions.
Bank Indonesia (BI) reiterated that Rupiah stability and inflation control remain key policy priorities, and therefore maintained the BI Rate at 5.75% amid global market pressures and the risk of a higher-for-longer interest rate environment. At the same time, BI continues to support economic growth through liquidity easing measures, credit incentives, and the strengthening of DNDF/NDF instruments and external resilience, with the objective of maintaining Rupiah stability while minimizing excessive use of foreign exchange reserves.
Global
Wall Street closed lower in Monday’s trading session, with the Dow Jones Industrial Average declining 0.67% to 51,481.51, the S&P 500 falling 0.77% to 7,683.69, and the Nasdaq Composite declining 0.92% to 26,820.38. Market sentiment was pressured by higher US Treasury (UST) yields, with the 10-year yield rising above 5.2% and the 30-year yield above 5.5%. Expectations of higher US interest rates and continued pressure on technology stocks were key factors weighing on equity markets.
US-Iran negotiations have continued through Qatar, focusing on Iran’s revised proposal aimed at ending the conflict and reopening the Strait of Hormuz. However, significant differences remain between the parties. WTI (West Texas Intermediate) crude oil rose 0.83% to USD 93.17 per barrel, while Brent crude increased 1.60% to USD 105.99 per barrel, as uncertainty surrounding the negotiations and the reopening of the Strait of Hormuz heightened concerns over potential supply disruptions.
The recovery of Saudi oil flows through the East-West pipeline provided some relief to global supply conditions; however, ongoing geopolitical risks continued to support elevated oil prices.
The US Dollar Index (DXY) rose 0.21% to 101.18, remaining close to a two-month high, supported by higher oil prices, safe-haven demand, and expectations of a tighter Federal Reserve policy stance. Higher energy prices could also increase US inflation risks, keeping UST yields and the USD supported and potentially placing further pressure on emerging-market assets.
JOLTS Job Openings (August 2026) are expected to decline to 7.24 million, from 7.27 million previously, while the CB Consumer Confidence Index (September 2026) is expected to increase to 90.0, from 89.4 previously.
A moderation in labor demand could weigh on the USD, while stronger consumer confidence would indicate resilient US consumption. As a result, the potential impact on the USD remains mixed.
Sources: CNBC Indonesia, Refinitiv, Trading Economics, Bank Indonesia Website
USD/IDR Forecast Today: 17,970–18,070
Bank Indonesia Monetary Indicators:
| BI Rate | 5.75% | (23 Sep 2026) |
| CPI Inflation (YoY) | 3.19% | (31 Aug 2026) |
| Foreign Exchange Reserves | USD 146.508 billion | (31 Aug 2026) |
| USD/IDR Closing Rate | 17,970 | (28 Sep 2026) |
| JPY/IDR Closing Rate | 114.30 | (28 Sep 2026) |
| SGD/IDR Closing Rate | 14,058.83 | (28 Sep 2026) |
JTrust Bank – CCY BN & TT:
Available Currencies:
| 1 | US Dollar (USD) |
| 2 | Singapore Dollar (SGD) |
| 3 | Japanese Yen (JPY) |
| 4 | Euro (EUR) |
| 5 | Australian Dollar (AUD) |
| 6 | British Pound Sterling (GBP) |
| 7 | Chinese Yuan (CNY) |
| 8 | New Zealand Dollar (NZD) |
| 9 | Hong Kong Dollar (HKD) |
| 10 | Korean Won (KRW) |
Foreign Exchange Transaction Requirements:
- For foreign exchange transactions against Rupiah with an amount at or below (≤) the applicable threshold, customers are required to submit a Statement Letter for transactions below the threshold and a copy of valid identification.
- For foreign exchange transactions against Rupiah with an amount above (>) the applicable threshold, customers are required to submit a Statement Letter for transactions above the threshold, together with a copy of the underlying transaction documents, Tax Identification Number (NPWP), and valid identification.
Contact JTrust Bank Indonesia Treasury Sales:
(021) 2926-1114 (Hunting)
- Bintang: 0812 2650 949
- Hanif: 0811 8762 001
- Naomi: 0877 0633 1585
- Ade: 0821 6939 7410
Disclaimer:
Although the information contained herein has been prepared by PT Bank JTrust Indonesia Tbk (JTrust Bank) based on sources believed to be reliable, JTrust Bank makes no representation or warranty as to its accuracy or completeness and assumes no responsibility for any errors or omissions.
The information provided herein 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 information may be reproduced in any form without the prior written consent of JTrust Bank.
