The Rupiah’s Supports Are Crumbling
The rupiah is nearing Rp17,900 per US dollar. With trade surpluses shrinking, capital flowing abroad and policy risks mounting, there is little sign the currency will find support soon.
Yopie Hidayat
June 1, 2026
THE rupiah continues to slide. By the end of last week, it was already approaching Rp17,900 to the United States dollar. No one can say with confidence where the decline will end. The clearest clue comes from Indonesia’s balance of payments data, published two weeks ago, and it is far from encouraging.
The figures show that several of the rupiah’s traditional pillars of support are weakening simultaneously. Take the trade surplus. In
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