Inp.polri.go.id - Jakarta. The Indonesian Rupiah plummeted 123 points to Rp 17,304 per US Dollar on Thursday afternoon (23/4/2026), triggered by collapsed diplomatic negotiations between the United States and Iran. 

The failure of the Pakistan-facilitated talks, combined with surging global crude oil prices, has intensified pressure on Indonesia’s fiscal stability and currency valuation.

"One of the primary causes is external, specifically the failed meetings between the US and Iran this week," explained economic analyst Ibrahim Assuaibi, as quoted by antaranews.com. 

He noted that the geopolitical tension has pushed Brent oil to 103 USD per barrel, significantly exceeding Indonesia’s 2026 State Budget assumptions.

Domestically, the government faces a widening deficit due to heavy fuel subsidies and maturing public debt. With oil imports reaching 1.5 million barrels per day, the weakening exchange rate significantly increases the cost of maintaining subsidized Pertalite prices. Experts warn the Rupiah could breach the Rp17,400 level by next week if global volatility persists.

(mg/inp/pr/rs)