Rupiah opens weaker at Rp18.035 per dollar on Monday

The rupiah weakened 8 points, or 0.04 percent, to Rp18.035 per U.S. dollar at the opening of trade on Monday (19/10), from the previous close of Rp18.027 per U.S. dollar. The move came amid external pressure and still-fragile domestic sentiment. Doo Financial analyst Lukman Leong said the rupiah remains under both internal and external pressure, although sanctions by Otoritas Jasa Keuangan and a hearing by Bursa Efek Indonesia could help restore market confidence. Another sentiment driver came from a review by Morgan Stanley Capital International, which opened a consultation on a proposal to reclassify Indonesia from emerging market to standalone market. Market feedback will be accepted until 30 April 2027, with a final decision expected before 30 Juni 2027.