August 12, 2026 | 05:15 pm
TEMPO.CO, Jakarta - The rupiah exchange rate against the US dollar at the close of trading on Wednesday weakened by 16 points (0.09 percent) to Rp17,877 per US dollar, from the previous close of Rp17,861.
According to Woori Bank analyst Rully Nova, the rupiah's weakening was influenced by developments in the negotiations between the U.S. and Iran. "Developments in negotiations between the U.S. and Iran will affect oil prices," he said on Wednesday, as quoted by ANTARA.
Sputnik reported that Iran put forward several conditions for the reopening of the Strait of Hormuz to the U.S. through mediators, including a halt to aggression across the region, including Lebanon and Palestine, and the return of frozen assets.
However, as Anadolu reported, Tehran and Washington have yet to reach a final agreement to end the confrontation. Meanwhile, the closure of the Strait of Hormuz continues to disrupt the global energy supply chain.
Additionally, market players are waiting to see the U.S. inflation data that will be released tonight.
In terms of domestic sentiment, the risk of uncertainty has reportedly eased slightly, as Indonesian President Prabowo Subianto appointed Destry Damayanti as the sole candidate for Governor of Bank Indonesia (BI).
"The market response has been quite positive, and the figure is well-received by the market, with a clear commitment to a sustainable rupiah stability program," Rully said.
The Bank Indonesia Jakarta Interbank Spot Dollar Rate (JISDOR) also decreased today, moving from Rp17,824 to Rp17,876 per US dollar.
Read: What Behind Rupiah's Latest Bounce Against US Dollar
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