The rupiah strengthened 0.40 percent to Rp 17,851 per US dollar at the close of trading on Monday, 29 June 2026. The move was driven in part by news of state-owned enterprise restructuring.
Citing Bloomberg data, the rupiah rose 71 points during that trading session. Currency observer Ibrahim Assuaibi said domestic sentiment also supported the move.
Assuaibi noted that President Prabowo plans to reduce the number of state-owned enterprises from around 1,000 to about 250 companies. The measure is seen as a way to ease the state budget burden amid the APBN deficit.
The government also decided to decline a US$30 billion aid offer from the IMF. According to Assuaibi, the choice reinforced market confidence in Indonesia’s economic fundamentals.
Investors are now awaiting trade balance and inflation data due in early July 2026.
