Indonesian Rupiah Opens Weaker Against US Dollar on Wednesday

Market Overview

The Indonesian rupiah commenced trading weaker against the US dollar on Wednesday, November 26, 2025. At 09:18 WIB, the currency pair was recorded at Rp16,661 per USD, representing a 0.02% or 4-point depreciation. This movement follows a 43-point appreciation to Rp16,656 on the previous trading day.

Exchange Rates at Major Banks

Major Indonesian banks have updated their USD/IDR exchange rates as follows:

• PT Bank Central Asia Tbk. (BBCA):
  • E-rate: Rp16,665 (buy) / Rp16,685 (sell)
  • TT Counter: Rp16,475 (buy) / Rp16,775 (sell)
• PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI):
  • E-rate: Rp16,658 (buy) / Rp16,685 (sell)
  • TT Counter: Rp16,560 (buy) / Rp16,760 (sell)
• PT Bank Mandiri (Persero) Tbk. (BMRI):
  • Special Rate: Rp16,665 (buy) / Rp16,685 (sell)
  • TT Counter: Rp16,500 (buy) / Rp16,800 (sell)
• PT Bank Negara Indonesia (Persero) Tbk. (BBNI):
  • Special Rate: Rp16,662 (buy) / Rp16,692 (sell)
  • TT Counter: Rp16,495 (buy) / Rp16,795 (sell)

Market Analysis

Currency analyst Ibrahim Assuaibi predicts that the rupiah will experience fluctuating movements throughout the day, potentially closing between Rp16,650 and Rp16,700 per USD. Several factors are influencing the currency's movement:

1. Global Sentiment: Market participants are increasingly confident that the Federal Reserve will implement a 25 basis point rate cut in December 2025, following dovish comments from Fed officials.
2. Geopolitical Developments: Positive developments in the Ukraine-Russia conflict have contributed to market sentiment.
3. Domestic Fiscal Policy: The Indonesian government's fiscal condition remains a domestic concern. Despite President Prabowo Subianto's aspiration to achieve a balanced budget by 2027 or 2028, the Ministry of Finance has actually increased the 2026 budget deficit target from 2.48% to 2.68% of GDP, approved by the DPR.

Outlook

The combination of global monetary policy expectations and domestic fiscal dynamics is likely to continue influencing the rupiah's movement. Investors and market participants will be closely monitoring these developments throughout the day.