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fxJun 9, 2026, 12:51 PM

Bank Indonesia Hikes 25bps Off-Cycle to Support Rupiah

Bank Indonesia delivered an unscheduled 25 basis point rate hike to 5.50% following a prior surprise 50bps move, causing USD/IDR to retreat sharply from a record high, according to BBH’s Elias Haddad.

USDIDR

Bank Indonesia raised its key interest rate by 25 basis points to 5.50% in an off-cycle meeting, stepping up efforts to stabilize the Indonesian rupiah. The move followed a surprise 50bps hike earlier, as noted by Elias Haddad of Brown Brothers Harriman.

USD/IDR initially hit a fresh record high but then retreated sharply after the announcement. The central bank's aggressive tightening underscores its commitment to curbing currency weakness amid global dollar strength.

Source: FXStreet Forex News