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Indonesian rupiah trades near Rp. 18,000 amid external pressures
- The Indonesian rupiah closed at IDR 17,978 per US dollar on 28th September 2026, trading near the psychological Rp. 18,000 threshold, having depreciated approximately 7.1% year-to-date from Rp. 16,694 at end-2025.
- Bank Indonesia Governor Destry Damayanti stated that despite efforts to strengthen the currency, powerful external forces including rising US Treasury yields and triple-digit crude oil prices remain outside the central bank’s control.
- Bank Indonesia maintained its benchmark BI-Rate at 5.75% during the 22nd-23rd September meeting, citing inflation remaining within the 2.5% plus or minus 1% target range, with headline inflation at 3.19% year-on-year in August 2026.
- The central bank introduced hedging incentive programmes offering fee discounts on foreign exchange swaps and Domestic Non-Deliverable Forwards, attracting approximately $6 billion in capital inflows within a month.
- Indonesia’s current account deficit widened to $12.49 billion in the second quarter of 2026 from $3.58 billion in the first quarter, driven by compressed merchandise trade surplus and service deficits.
- Foreign institutional investors recorded net equity sales of IDR 1.13 trillion ($62.86 million) on 28th September, extending annual equity outflows past IDR 78 trillion, with the Jakarta Composite Index falling 1.51% to 6,147.
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The Indonesian rupiah closed at IDR 17,978 per US dollar on 28th September 2026, trading near the psychological Rp. 18,000 threshold, having depreciated approximately 7.1% year-to-date from Rp. 16,694 at end-2025.
Devanshee DaveYuno, an AI-native commerce intelligence system, partnered with Cyclops to bring stablecoin payments and settlement capabilities to its financial institutions and merchants.
Devanshee DaveMizuho Bank and the International Finance Corporation announced a US$1 billion risk-sharing facility to expand access to supply chain finance for suppliers and distributors in Asia-Pacific markets.
Devanshee DaveBank of America announced the launch of Payments Insights, a new CashPro capability providing corporate and commercial clients with intelligence on payment efficiency, cross-border flows and working-capital performance.
Devanshee DaveFinastra announced the launch of Repair Recommendations at Sibos 2026 in Miami, an AI-powered capability within AI OperatorAssist designed to help banks resolve payment processing issues more efficiently.
Devanshee DaveKB Kookmin Bank signed a Strategic MOU with BNY on 28th March at SIBOS 2026 in Miami to explore cross-border financial services leveraging digital payments and digital assets.
Devanshee DaveOracle is integrating with Swift's blockchain ledger to enable financial institutions to participate in payment flows and use their own tokenised deposit infrastructures across institutions.
Devanshee DaveHSBC announced the launch of HSBCnio, a digital solution designed to simplify banking for corporate and institutional clients by integrating services, data and intelligence into their existing platforms and workflows.
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Lloyds launches Get Paid invoicing tool to help business customers manage payments and reduce admin
Lloyds launches Get Paid invoicing tool to help business customers manage payments and reduce administrative burden at no additional cost.
Enjel De GuzmanSwift is connecting domestic instant payment systems including Bizum, PayID from Australian Payments Plus, and Pix to enable cross-border payments using familiar identifiers such as mobile phone numbers, emails and virtual payment addresses.
Devanshee DaveBNY announced the launch of a Pay-to-Wallet capability enabling banks to send cross-border payments from bank accounts to participating retail digital wallets using existing SWIFT payment messages and correspondent banking infrastructure.
Devanshee Dave
HSBC launches smart checking: AI-powered solution to transform trade finance documentation processing
HSBC launches Smart Checking, an AI-powered solution to standardise trade finance documentation processing and accelerate payment times for clients.
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BAFT, Trade Treasury Payments (TTP) enter global strategic partnership
BAFT and Trade Treasury Payments enter global strategic partnership spanning joint publications, events and industry dialogue.
Deepesh Patel
Sibos 2026: Finastra launches supply chain finance solution to help banks scale working capital programs
Finastra launches supply chain finance solution at Sibos 2026 to help banks scale working capital programs and accelerate time to market.
Devanshee DaveBrussels has warned British Prime Minister Andy Burnham that Britain needs to raise tariffs on Chinese cars and align more closely with EU trade policy to avoid "made in Europe" barriers on key exports.
Devanshee DaveVietnam's Minister of Finance Ngo Van Tuan held working sessions with major corporations and financial institutions during his trip to the United States from 20th to 25th September.
Devanshee Dave
Sibos 2026: Live reporting from TTP at Miami
TTP reports live from Sibos 2026 in Miami, covering the BAFT Global Councils Forum and industry updates throughout the week.
Deepesh PatelThe World Trade Report 2026, issued on 15th September, finds that a strengthened multilateral trading system could increase global GDP by roughly 3% or $3 trillion by 2050.
Devanshee DaveHSBC and Conferma have extended their virtual card partnership into supplier payments across Hong Kong, Singapore, and Malaysia, expanding beyond their initial focus on corporate travel payments.
Devanshee DaveThe Export and Investment Fund of Denmark (EIFO) announced a €66.7 million investment in DTCP's €455 million Defence Fund I, joining investors including Porsche and Deutsche Telekom in the first close.
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