Indonesian Banks Update USD Exchange Rates Amid Rupiah Weakness

Major Banks Adjust Rates as Dollar Strengthens

Major Indonesian banks including BCA, BRI, and BNI have updated their USD exchange rates for January 17, 2026, with selling rates reaching Rp17,000 per USD. This adjustment comes as the Indonesian rupiah weakened to Rp16,895.5 against the USD on Thursday (January 15, 2026).

Currency Market Dynamics

The rupiah's decline of 30.50 points was accompanied by a 0.15% strengthening of the US dollar index to 99.20. Most Asian currencies also depreciated against the USD, with the Japanese yen falling 0.13% and the Korean won declining 0.47%. Economic analyst Ibrahim Assuaibi attributes the dollar's strength to reduced tensions between Washington and Tehran following statements from US President Donald Trump suggesting Iran would halt escalations.

Economic Context and Implications

The US dollar's strength was further supported by robust US retail sales data that exceeded expectations, indicating continued strength in US consumer spending. While the Producer Price Index (PPI) remains above the 2% target, market participants remain optimistic about potential Fed rate cuts this year. Domestically, Ibrahim highlights that Indonesia's middle class is under pressure and becoming increasingly vulnerable, suggesting the need for economic stimulus.

Bank-specific Exchange Rates

• BCA updated its rates at 07:01 WIB with e-rate selling price at Rp16,915 per USD
• BRI updated at 12:22 WIB with e-rate selling price at Rp16,950 per USD
• BNI updated at 12:35 WIB with special rate selling price at Rp16,850 per USD

The significant movement in exchange rates reflects both global economic factors and domestic currency dynamics.