Indonesian main stock index slide more than 3%

Indonesian rupiah slightly stronger at 16,450 per dollar Indonesian main stock index slide more than 3% Indonesian rupiah slightly stronger at 16,450 per dollar

The Indonesian rupiah has shown a slight increase, trading at 16,450 per US dollar, according to the latest data from Xe Currency Converter [1]. This marks a marginal improvement from the previous levels, where the currency was trading around 16,430 per dollar. The strengthening of the rupiah comes amidst growing public discontent over lawmakers' new perks, which have sparked protests and unrest in the country [2].

Meanwhile, the Indonesian stock market has experienced a significant downturn. The IDX Composite index dropped by 163 points, or 2.3%, to 7,770 points around noon on Friday, marking the largest intraday percentage drop since June 23 [3]. This decline halted the previous two sessions' gains and pushed the index to its lowest level in over two weeks. The pullback was primarily driven by rising political tensions, including a fatal incident involving a motorcycle rider struck by a police vehicle during violent clashes outside parliament. Additionally, ongoing foreign outflows have further pressured the market, as traders await the release of key domestic data, including CPI and trade figures, due next Monday.

The recent political turmoil and economic uncertainties have had a significant impact on the Indonesian economy. The rupiah's slight strengthening may indicate a temporary relief, but the broader economic outlook remains uncertain. Investors and financial professionals should closely monitor the situation and stay informed about any new developments that could affect the currency and the stock market.

References:
[1] Xe Currency Converter. (2025, August 28). Indonesian Rupiah to US Dollar conversion. Retrieved from https://www.xe.com/en-us/currencyconverter/convert/?Amount=1&From=IDR&To=USD
[2] TradingView. (2025, August 28). Indonesian rupiah slides to 4-week low on lawmaker perks backlash. Retrieved from https://www.tradingview.com/news/te_news:481245:0-rupiah-slides-to-4-week-low-on-lawmaker-perks-backlash/
[3] Trading Economics. (2025, August 29). Indonesia stock market. Retrieved from https://tradingeconomics.com/indonesia/stock-market