TEMPO.CO, Jakarta - The rupiah exchange rate weakened 33 points, or 0.19 percent, to Rp17,630 per US dollar on Monday morning, compared to the previous close of Rp17,597 per US dollar.
Doo Financial Futures currency analyst Lukman Leong said the rupiah weakened as the meeting between US President Donald Trump and Chinese President Xi Jinping failed to discuss a solution to the US-Iran war.
"The rupiah has the potential to weaken again in response to global risk-off sentiment on Friday (May 15th). The US dollar strengthened significantly amid a sell-off of all assets, including bonds, stocks, cryptocurrencies, and currencies, driven by investor disappointment with the outcome of the Xi-Trump meeting, which failed to discuss or provide a solution to the US-Iran war," he told ANTARA in Jakarta on Monday, May 18, 2026.
During the Xi-Trump meeting, China recommended the immediate reopening of the Strait of Hormuz while maintaining the ceasefire.
Chinese Foreign Minister Wang Yi stated that China continues to strive to promote peace and facilitate negotiations, and will continue to play its role in encouraging a swift end to the war and restoring peace in the Middle East region.
However, Iranian Foreign Minister Abbas Araghchi said that Pakistan-led mediation efforts with the US have not failed, but face a "very difficult road," citing distrust of Washington and contradictory American messages.
Araghchi said Iran remains committed to diplomacy despite what he described as a "shaky" ceasefire following the recent war between the US and Israel against Iran.
Citing Anadolu, Trump himself expressed uncertainty about whether a deal would be reached soon between the US and Iran as negotiations over the nuclear program and the ongoing conflict continue without a resolution.
According to several media reports, Trump is expected to decide in the coming hours whether to resume strikes against the Iranian regime, as talks aimed at ending the conflict and addressing Iran's nuclear program have so far failed to reach an agreement.
This sentiment has caused global crude oil prices to rise again. Although China and the US have agreed to several cooperation agreements, the market response has not been as strong as concerns about high global oil prices.
"Both countries and the world want the war to end, but it seems difficult for Iran to give up its nuclear ambitions, so the Xi and Trump meeting focused more on the relationship between the two countries," Lukman said.
Based on these factors, the rupiah is estimated to be in the range of Rp17,550-Rp17,650 per US dollar.
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