March 30, 2026 | 08:31 pm
TEMPO.CO, Jakarta - The Indonesian rupiah closed at Rp 17,002 per US dollar on Monday, March 30, 2026, weakening 22 points from the previous day’s level of Rp 16,979 per US dollar.
Market observers say the currency remains under pressure amid concerns over a potential escalation of the Iran conflict.
“The market is currently anticipating the Federal Reserve’s next move, likely an interest rate hike, given the ongoing high energy price environment,” said Ibrahim Assuaibi, Director of PT Traze Andalan Futures, in a written statement on Monday.
From a domestic perspective, Ibrahim noted that the rupiah’s performance is also influenced by market sentiment surrounding the government’s plan to streamline the state budget.
He stressed that fiscal consolidation needs to be complemented by other supportive policies to maintain the health of the State Budget effectively.
“The current fiscal pressure is largely structural, driven by energy subsidies, rising debt interest costs, and prioritized spending needs. Realistic streamlining can only come from non-priority spending, given the increasingly tight budget, particularly for energy subsidies, employee costs, and debt servicing,” Ibrahim explained.
Meanwhile, Indonesia’s stock market saw a modest decline on Monday. The Composite Stock Price Index (IHSG) fell 0.08 percent to close at 7,091. A total of 272 stocks advanced, 403 declined, and 149 remained unchanged.
Trading volume reached 25.12 billion shares, valued at Rp 14.94 trillion, with a total of 1.67 million transactions recorded.
The combination of geopolitical tensions, high energy prices, and domestic fiscal challenges continues to weigh on both Indonesia’s currency and stock market, highlighting investor caution as the year progresses.
Read: IDX Says 11 Large Companies in IPO Pipeline
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