# Rupiah Stuck Near Rp 18,000 as Oil Shock, Dollar Rally Bite

> The rupiah traded near Rp 17,873 per US dollar, holding close to the Rp 18,000 level. Pressure came from the US-Iran conflict, higher oil prices, a strong dollar and capital outflows. Domestic fiscal worries also weighed on the currency.

- Date: 2026-05-29 · published 2026-05-29T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/19562-rupiah-stuck-near-rp-18-000-as-oil-shock-dollar-rally-bite
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Rupiah weakness combined with elevated oil prices raises the import cost of feed ingredients and energy for Indonesian buyers. The dollar strength also pressures dollar-priced grain and meal.

## Read by commodity

- WTI: bullish ▲
- USDIDR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-08-26 | [Canadian dollar strengthens to 5-month high as oil rallies](https://feedsoft.ai/events/29033-canadian-dollar-strengthens-to-5-month-high-as-oil-rallies.md) | -1.7% | -5.9% |
| WTI | 2023-02-23 | [Canadian dollar claws back some recent declines as oil rallies - The Globe and Mail](https://feedsoft.ai/events/37575-canadian-dollar-claws-back-some-recent-declines-as-oil-rallies-the-globe-and.md) | +4.9% | -4.3% |
| WTI | 2021-12-10 | [Canadian dollar set to end weekly losing streak as oil rallies \| Financial Post](https://feedsoft.ai/events/43855-canadian-dollar-set-to-end-weekly-losing-streak-as-oil-rallies-financial-post.md) | +2.1% | +11.4% |
| WTI | 2016-12-01 | [C$ strengthens as oil extends rally on OPEC deal](https://feedsoft.ai/events/73708-c-strengthens-as-oil-extends-rally-on-opec-deal.md) | +0.8% | +8.8% |
| WTI | 2026-04-29 | [Canadian dollar steadies as oil lifts BoC rate hike bets - The Globe and Mail](https://feedsoft.ai/events/19934-canadian-dollar-steadies-as-oil-lifts-boc-rate-hike-bets-the-globe-and-mail.md) | +2.2% | -10.9% |

## Sources

- jakartaglobe.id: https://jakartaglobe.id/business/rupiah-stuck-near-rp-18000-as-oil-shock-dollar-rally-bite

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.