TEMPO.CO, Jakarta - Indonesia's rupiah exchange rate strengthened 120 points, or 0.70 percent, to Rp16,985 per US dollar on Wednesday morning, from the previous close of Rp17,105.
Woori Saudara Bank analyst Rully Nova said the rupiah's strengthening was influenced by easing external pressure following the temporary ceasefire between the US and Iran.
"The rupiah is expected to strengthen slightly in the range of Rp17,050-Rp17,100 in today's trading, influenced by easing external pressure following the two-week pause (between the US and Iran). (This) has pushed oil prices and the dollar index down," he told ANTARA in Jakarta on Wednesday.
Citing Sputnik, US President Donald Trump announced a two-week ceasefire with Iran, which will last for both sides, and said that the Strait of Hormuz will soon be opened.
According to Trump, the agreement was brokered by Pakistani Prime Minister Shehbaz Sharif and Pakistani Army Chief of Staff Air Chief Marshal Asim Munir, who encouraged Trump to suspend bombings and attacks on Iran.
The Iranian government will begin talks with the United States in the Pakistani capital, Islamabad, on Friday, April 10, 2026.
Iran's Supreme National Security Council emphasized that a ceasefire will be announced this week and that negotiations do not mean the end of the war with the United States. If the United States makes "the slightest mistake" during the talks, Iran will respond with full force.
Looking at domestic sentiment, pressure is mounting as market participants monitor the government's fiscal pressures and budget deficit, as well as the release of foreign exchange reserve data to be announced by Bank Indonesia this afternoon.
"The greatest pressure is on subsidized fuel expenditures and the downward trend in the tax ratio. If we look at the first-quarter budget deficit, which is already approaching 1 percent, there are concerns that the budget deficit will reach 3 percent this year," said Rully.
Read: Israel Joins US-Brokered Ceasefire with Iran, White House Says
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