The rupiah exchange rate against the US dollar strengthened in Tuesday morning trading, boosted by Finance Minister Purbaya Yudhi Sadewa's optimism about 2026 tax revenue exceeding targets. January tax realizations surged 30.8 percent year-on-year, while the Consumer Confidence Index rose to its highest level in a year. This comes amid fluctuations in the domestic stock market, which opened slightly weaker.
On Tuesday, February 10, 2026, the rupiah exchange rate against the US dollar showed strength in early trading. According to Bank Indonesia's Jakarta Interbank Spot Dollar Rate (Jisdor) data, the rate stood at Rp16,838 per US dollar on Monday, February 9, up 49 points from Rp16,887 the previous Friday. In the spot market until 09:01 WIB, the rupiah traded at Rp16,796 per US dollar, rising 9 points or 0.05 percent from Rp16,805.
This strengthening aligns with Finance Minister Purbaya Yudhi Sadewa's optimism regarding 2026 tax revenue. He predicts the Rp2,357.7 trillion target in the state budget could be exceeded, despite the low 2025 realization of Rp1,917.6 trillion, resulting in a Rp271.7 trillion shortfall. Thus, the required annual growth is 22.9 percent to chase an additional Rp440.1 trillion.
Economist observer Ibrahim Assuaibi stated, "This is estimated by him despite the low growth base of tax revenue last year, which has also drawn attention from foreign rating agencies." This optimism is supported by January 2026 tax realizations surging 30.8 percent year-on-year.
Additionally, the Consumer Confidence Index (IKK) rose 3.5 points to 127 in January 2026, the highest level since January 2025 (127.2). With a reference of 100, the IKK indicates an optimistic zone that can predict increased household consumption.
Meanwhile, the Composite Stock Price Index (IHSG) opened slightly weaker at 8,031.58, down 0.29 points or 0.01 percent from the previous close at 8,031.87. Analysts predict a limited correction, influenced by the postponement of the FTSE Russell index review for March 2026, which creates psychological pressure in the market.
