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Edition of Wednesday, 28 October 2026English edition
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The Geopolitician

Country risk, from the local press

Indonesia · Country watch

Rupiah Weakens, Student Protests Turn Violent

The rupiah weakens further to Rp18,184 per USD and student protests escalate into violence, affecting business operations and currency stability.

· · 4 articles read

The picture Deteriorating How this is judged →

Business conditions in Indonesia are deteriorating due to the rupiah's further weakening and escalating student protests in major cities, affecting stability and operations.

Flare-up watch: Calm (0.8) · How this is judged → · All Indonesia briefings →

In this briefing University of Indonesia · Jakarta · Yogyakarta · Bank Indonesia · Rupiah

Internal tension

  • Public sector
  • Logistics

Student Protests in Jakarta Turn Violent

Bundaran Hotel Indonesia dari Halte Transjakarta Bundaran HI Astra pada Maret 2025
Bundaran Hotel Indonesia dari Halte Transjakarta Bundaran HI Astra pada Maret 2025 — Medelam, CC BY 4.0 via Wikimedia Commons

Student protests commemorating Youth Pledge Day in Jakarta turned violent as demonstrators clashed with police. The protests, organized by the University of Indonesia Student Executive Board and the Committee to Save People's Sovereignty, escalated near Dukuh Atas, Central Jakarta, according to Liputan 6. Police used barricades to control the crowd, but tensions rose, leading to confrontations.

Impact Transport and logistics operations in Jakarta face disruptions due to road closures and heightened security measures.

Sources: Liputan 6 ↗

  • Public sector

Protests in Yogyakarta Turn Chaotic

Tugu Monument, Yogyakarta
Tugu Monument, Yogyakarta — Chainwit., CC BY 4.0 via Wikimedia Commons

Protests in Yogyakarta's Malioboro area turned chaotic, with demonstrators clashing with police late into the night, according to ANTARA News. The unrest was part of a larger wave of demonstrations across the country related to Youth Pledge Day. Police reported incidents of stone-throwing and fireworks being used by the crowd.

Impact Public-sector operations and local businesses in Yogyakarta face disruptions due to ongoing protests and security measures.

Sources: ANTARA News ↗

Markets

  • Finance

Rupiah Weakens to Rp18,180, BI Intervenes

Bank Indonesia (BI) is intervening in the foreign exchange market to stabilize the rupiah, which has weakened to Rp18,180 per USD. The central bank is using non-deliverable forwards (NDF) and purchasing government bonds to manage the currency's volatility, according to okezone.com. The rupiah's depreciation is attributed to external pressures, including geopolitical tensions affecting global oil prices.

Impact Importers and companies with USD-denominated liabilities face increased costs as the rupiah weakens.

Sources: okezone.com ↗

  • Finance

Rupiah Closes at Rp18,184 Amidst Pressure

The rupiah closed at Rp18,184 per USD, weakening by 28 points on Wednesday, according to okezone.com. The currency has been under pressure from both domestic and international factors, including concerns over Indonesia's trade balance and external geopolitical events.

Impact Currency traders and businesses engaged in international trade face challenges due to the rupiah's continued weakness.

Sources: okezone.com ↗

Nothing significant reported today in Regulation · Disruption · Safety & health · Companies · Trade · Politics.

Also today in the local press

Sources in this briefing

Sources: each headline links to the original article on the publisher's site.

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The same day elsewhere