TEMPO.CO, Jakarta - Currency analyst at Doo Financial Futures, Lukman Leong, projects the weakening of rupiah today, affected by the war between Iran and the United States.
Lukman predicts that the rupiah will weaken in the range of Rp16,750 - Rp16,900 per US dollar, as the market tends to avoid risky assets and move their funds to perceived safer assets.
"The rupiah is expected to weaken and move volatile against the US dollar amidst the risk-off sentiment from the escalation of war in the Middle East," said Lukman to Antara in Jakarta, Monday, March 2, 2026.
Nevertheless, Bank Indonesia (BI) is expected to intervene soon. Rupiah opened weaker by 42 points or 0.25 percent, on Monday morning, at Rp16,829 per US dollar after previously closing at Rp16,787 per US dollar.
US and Israel launched joint attacks against Iran on Saturday morning, February 28, 2026 local time. The two allies attacked several targets across Iran, including the capital Tehran, causing damage to infrastructure and killing civilians.
Iran then launched retaliatory missile attacks on Israeli territory and US bases in the region.
Iran's Supreme Leader Ali Khamenei was confirmed martyred in his office during the Saturday strikes by Washington and Tel Aviv.
Following Khamenei's death, the Iranian government announced a 40-day mourning period and a week-long public holiday.
The Islamic Revolutionary Guard Corps (IRGC) and the Iranian Army, in their written statements, vowed to retaliate for Khamenei's death.
Read: Bank Indonesia Moves to Stabilize Rupiah as Iran Conflict Escalates
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