April 13, 2026 | 04:45 pm
TEMPO.CO, Jakarta - Indonesia’s rupiah weakened on Monday morning, falling 17 points, or 0.10 percent, to Rp17,121 per US dollar from Rp17,104 in the previous session.
Lukman Leong, a currency analyst at Doo Financial Futures, said the decline was driven by rising geopolitical tensions in the Middle East, particularly following US President Donald Trump’s threat to close the Strait of Hormuz.
“The rupiah is expected to weaken against the US dollar amid increasing uncertainty over Middle East geopolitics, following Trump’s threat to close the Strait of Hormuz after failed negotiations with Iran,” Lukman told Antara in Jakarta on Monday, April 13.
Citing Sputnik, Trump said the United States would soon begin a blockade of the Strait of Hormuz to prevent what he described as “extortion” by Iran. He added that the US Navy would block vessels entering or leaving the strait until unrestricted passage is ensured.
Meanwhile, Iran has signaled plans to impose fees on ships crossing the strategic waterway. Ebrahim Aziz, chairman of the Iranian parliament’s National Security and Foreign Policy Commission, said Tehran is considering a system to regulate and control traffic through the Strait of Hormuz and the Persian Gulf, including charging fees based on national interests.
Lukman warned that prolonged tensions could push global energy prices higher and increase the likelihood of interest rate hikes by the US Federal Reserve.
“If the situation in the Middle East does not improve, prices are expected to continue rising, increasing the prospect of further rate hikes by the Fed,” he said.
He projected the rupiah would trade in the range of Rp17,050 to Rp17,200 per US dollar in the near term.
Read: Analyst Predicts Gold Price to Top Rp3 Million per Gram Next Week
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