Indonesian Rupiah Opens Stronger Against US Dollar

Currency Market Update

The Indonesian rupiah opened on a positive note against the US dollar on November 10, 2025, strengthening by 0.09% to Rp16,675 according to Bloomberg data at 09:00 WIB. This movement occurred as the US dollar index simultaneously rose by 0.04% to 99.64.

Asian Currency Movements

Other Asian currencies showed mixed performance against the US dollar. The Japanese yen weakened by 0.26%, while the Hong Kong dollar rose by 0.02%. The Singapore dollar and Taiwanese dollar both declined by 0.12% and 0.09% respectively. In contrast, the South Korean won appreciated by 0.53%. The Philippine peso depreciated by 0.53%, while the Chinese yuan gained 0.03%. The Malaysian ringgit rose by 0.12%, and the Thai baht weakened by 0.03%.

Expert Analysis

Currency expert Ibrahim Assuaib expressed concerns about the rupiah's potential weakening to the range of Rp16,690-Rp16,740 by the end of the day. He cited several factors including the prolonged US government shutdown, which has created market uncertainty and forced traders to rely on private sector surveys as economic indicators. These surveys indicate signs of weakening in the US labor market, potentially accelerating The Fed's rate cut expectations.

Domestic Economic Context

Indonesia's economic growth slowed to 5.04% in Q3 2025, complicating the government's efforts to achieve its annual growth target of 5.2%. The government remains optimistic about reaching 5.5% growth in Q4 2025, which, if achieved, would still result in a yearly growth of only 5.13%. Ibrahim Assuaib expressed skepticism about achieving such high growth in Q4, citing historical trends.

Major Banks' Exchange Rates

Major Indonesian banks updated their exchange rates as follows:

1. Bank Central Asia (BCA):

   • E-rate: Rp16,660 (buy) | Rp16,680 (sell)
   • TT Counter: Rp16,505 (buy) | Rp16,805 (sell)
   • Bank Notes: Rp16,505 (buy) | Rp16,805 (sell)

2. Bank Rakyat Indonesia (BRI):

   • E-rate: Rp16,656 (buy) | Rp16,683 (sell)
   • TT Counter: Rp16,570 (buy) | Rp16,770 (sell)

3. Bank Mandiri:

   • Special Rate: Rp16,650 (buy) | Rp16,680 (sell)
   • TT Counter: Rp16,475 (buy) | Rp16,775 (sell)
   • Bank Notes: Rp16,450 (buy) | Rp16,750 (sell)

4. Bank Negara Indonesia (BNI):

   • Special Rate: Rp16,656 (buy) | Rp16,686 (sell)
   • TT Counter: Rp16,515 (buy) | Rp16,815 (sell)
   • Bank Notes: Rp16,515 (buy) | Rp16,815 (sell)

The varied exchange rates across different transaction types reflect the dynamic nature of currency trading in Indonesia's banking sector.