February 3, 2026 | 05:29 pm
TEMPO.CO, Jakarta – The rupiah strengthened at Tuesday’s close, gaining 44 points, or 0.26 percent, to Rp16,754 per US dollar from Rp16,798 previously.
According to money market analyst Ibrahim Assuaibi, the appreciation was partly driven by an improvement in Indonesia’s Manufacturing Purchasing Managers’ Index (PMI).
Data from S&P Global Market Intelligence showed Indonesia’s Manufacturing PMI rose to 52.6 in January 2026, up from 51.2 in December 2025.
“The increase is moderate, and growth continues with the index remaining above the 50-point threshold,” Ibrahim said in a written statement received in Jakarta on Tuesday, February 3, 2026, as quoted by Antara.
The improvement in the Manufacturing PMI was supported by sustained growth in output and new orders. The data were compiled from a survey conducted between January 12 and 23, 2026, involving purchasing managers from 400 selected manufacturing companies.
Ibrahim noted that respondents often attributed the increase to stronger market demand for goods. Demand conditions were largely supported by domestic economic activity, while international demand has declined for five consecutive months amid fewer tariff-related reports constraining overseas demand.
“In line with continued growth in new orders, production increased in January. Output has risen for three consecutive months and marked the second-fastest growth rate in the past 11 months,” Ibrahim said.
S&P Global also observed that rising production needs and improving demand conditions prompted companies to increase input purchases for the sixth straight month. Firms also reported efforts to build inventories before and after production in anticipation of higher output as demand continues to grow.
Meanwhile, Bank Indonesia’s Jakarta Interbank Spot Dollar Rate (JISDOR) also strengthened to Rp16,777 per US dollar from Rp16,800 previously.
Read: IHSG Opens Weaker at 7,880.47 as Market Remains Cautious
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