April 27, 2026 | 09:02 pm
TEMPO.CO, Jakarta - The Indonesian rupiah exchange rate at the close of trading today strengthened by 18 points or 0.10 percent to Rp17,211 per U.S. dollar from the previous close of Rp17,229 per U.S. dollar.
According to currency and commodity economist Ibrahim Assuaibi, the strengthening of the rupiah is influenced by the potential for peace talks between Iran and the U.S.
"Iranian Foreign Minister Abbas Araqchi is expected to arrive in Islamabad on Friday (May 1) evening to discuss a proposal to resume peace talks with the U.S. after the talks failed earlier this week," he said in a written statement in Jakarta on Monday, as quoted by Antara.
President Donald Trump stated that Iran submitted a new proposal to reopen the Strait of Hormuz and end the war.
Earlier, markets were concerned about the possibility of a military escalation in the region. This came a day after Iran released footage of commandos boarding a cargo ship in the Strait of Hormuz.
"Navigation through the Strait of Hormuz, which carried about a fifth of global oil production before the war, remains effectively blocked. Iran's seizure of two cargo ships underscores the challenges Washington faces in controlling the waterway. Only five vessels, including an Iranian oil product tanker, have passed through the strait in the past 24 hours," said Ibrahim.
The Jakarta Interbank Spot Dollar Rate (JISDOR) of Bank Indonesia also strengthened today, rising from Rp17,278 to Rp17,277 per U.S. dollar.
Read: Why Bank Indonesia Sees Rupiah as Undervalued
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