Oil prices corrected on Wednesday, September 30, 2026, as supply increased, according to Stockbit Snips. The same report noted that the rupiah strengthened alongside the move in crude.
The Indonesian currency closed stronger at Rp17,894 per US dollar on Wednesday, ANTARA News Jambi reported, adding that Bank Indonesia continued to intervene in the market. Kontan's data desk also reported the rupiah's gain for the day, while noting it still weakened 0.97% across September.
The broader picture remains difficult for the currency. Bank Indonesia disclosed that the rupiah has depreciated 7.74% since the start of 2026, according to Kumparan.com. Kompas.com reported separately that the rupiah had touched Rp18,000 per dollar and examined why the pressure had not yet eased.
Wednesday's moves put two forces side by side: softer crude prices tied to rising supply, and a currency that gained on the day but stayed under strain over the longer stretch. Bank Indonesia's continued market intervention, as described by ANTARA News Jambi, points to ongoing efforts to steady the exchange rate.
What to watch next: whether the rupiah can hold its Wednesday gains and whether Bank Indonesia keeps intervening as September's losses carry into the new month.
