At the opening of trading in Jakarta on Wednesday, February 11, 2026, the rupiah strengthened by 36 points or 0.21 percent to Rp16,775 per US dollar, up from the previous close of Rp16,811 per US dollar.

The appreciation of the rupiah, according to Permata Bank Chief Economist Josua Pardede, is partly driven by investors who remain in a wait-and-see mode ahead of the release of non-farm payrolls (NFP) data from the United States labor market.

Investors are awaiting US labor market data to gain insight into the future direction of the Feds policy, Josua said in Jakarta, as reported by Antara.

Xinhua previously reported that investors are anticipating the upcoming NFP announcement as market participants seek clarity on whether the labor market has weakened significantly following disappointing private sector employment data from ADP last week.

The US recently announced that retail sales for December 2025 remained flat at 0 percent month-on-month (mom), indicating a slowdown from November 2025 and falling below market expectations of 0.4 percent mom.

This data suggests weaker consumer demand, reinforcing expectations that the Fed may maintain accommodative policies and put downward pressure on the US dollar, Josua added.

Meanwhile, regarding domestic sentiment, Bank Indonesia Deputy Governor Destry Damayanti stated that the central bank still has room to cut its policy interest rate in the future. BI will evaluate the transmission speed of the benchmark interest rate before making further decisions on rate cuts.

According to Destry, the decision remains data-dependent and will be based on continuously evaluated economic performance. Given these factors, the rupiah is projected to fluctuate within the range of Rp16,750 to Rp16,850 per US dollar.

Source: tempo.co

Feb 14, 2026