Rupiah Stability Comes with a Hot-Money Trap

Tempo08-31 12:41

TEMPO.CO, Jakarta - The rupiah has strengthened for two consecutive weeks, ending last week broadly stable at about Rp17,700 to the United States dollar. But Indonesia should not take too much comfort...

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But Indonesia should not take too much comfort...</p>\n\n<a href=\"https://en.tempo.co/read/2118614/rupiah-stability-comes-with-a-hot-money-trap\">Source Link</a>\n\n</div>\n","source":"tempo_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rupiah Stability Comes with a Hot-Money Trap</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRupiah Stability Comes with a Hot-Money Trap\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-08-31 12:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://en.tempo.co/read/2118614/rupiah-stability-comes-with-a-hot-money-trap><strong>Tempo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TEMPO.CO, Jakarta - The rupiah has strengthened for two consecutive weeks, ending last week broadly stable at about Rp17,700 to the United States dollar. But Indonesia should not take too much comfort...</p>\n\n<a href=\"https://en.tempo.co/read/2118614/rupiah-stability-comes-with-a-hot-money-trap\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XLE","symbol_name":"SPDR能源指数ETF","start_time":0,"source_url":"https://en.tempo.co/read/2118614/rupiah-stability-comes-with-a-hot-money-trap","article_id":"2663902080","we_media_id":null,"thumbnails":["https://statik.tempo.co/data/2021/09/12/id_1050296/1050296_720.jpg"],"rights":{"source":"tempo_highlight","url":"https://en.tempo.co/read/2118614/rupiah-stability-comes-with-a-hot-money-trap","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2663902080","pubTimestamp":1788151282,"columns":[],"sourceInfo":{"source_id":"tempo_highlight","name":"Tempo"},"weMediaInfo":null,"summary":"TEMPO.CO, Jakarta -Therupiah has strengthened for two consecutive weeks, ending last week broadly stable at about Rp17,700 to the United States dollar. But Indonesia should not take too much comfort from this recovery. The latest balance-of-payments data, released last week, contain two warnings for investors. The currency’s apparent stability rests on foundations that are less solid—and considerably more fragile—than they appear.The first concern is Indonesia’s enormous current-account deficit. In the second quarter of 2026 alone, the shortfall reached US$12.5 billion, the largest quarterly deficit in nominal terms in the country’s history.At the same time, the non-oil and gas trade surplus narrowed from US$15.27 billion in the first quarter to US$12.14 billion in the second. This surplus has long served as an essential cushion, offsetting the deficit generated by energy imports. That cushion is now thinning—and could eventually disappear altogether.Read the Complete Story in Tempo En","collect":0,"end_time":0,"defaultTopTitle":"tempo.co","property":[],"viewcount":null,"language":"en","relate_stocks":{"XLE":"SPDR能源指数ETF","USL":"United States 12 Month Oil Fund LP","OILK":"ProShares K-1 Free Crude Oil ETF","USO":"美国原油ETF","FBZ":"First Trust Brazil AlphaDEX Fund","OILT":"Texas Oil Index ETF","XOP":"油气开采指数ETF-SPDR S&P","USOI":"ETRACS Crude Oil Shares Covered Call ETN","DRLL":"Strive U.S. Energy ETF","OILU":"MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN","IEO":"iShares Dow Jones U.S. Oil & Gas","DBO":"原油ETF-PowerShares","ERX":"二倍做多能源ETF-Direxion","GUSH":"Direxion Daily S&P Oil &Gas Exp. & Prod. Bull 2X Shares","BK4588":"碎股","DRIP":"Direxion Daily S&P Oil & Gas Exp. & Prod. 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But Indonesia should not take too much comfort from this recovery. The latest balance-of-payments data, released last week, contain two warnings for investors. The currency’s apparent stability rests on foundations that are less solid—and considerably more fragile—than they appear.The first concern is Indonesia’s enormous current-account deficit. In the second quarter of 2026 alone, the shortfall reached US$12.5 billion, the largest quarterly deficit in nominal terms in the country’s history.\nThe principal cause was the surge in oil prices following the outbreak of war with Iran. Indonesia’s oil and gas trade deficit ballooned to US$10.2 billion during the quarter. This exposes the economy’s acute dependence on imported energy. The country imports roughly 1 million barrels a day of crude oil and refined products. Any geopolitical shock that sends oil prices sharply higher will therefore pose a serious threat to the rupiah.\n\n\n\n\n\n\n\n\n\nAt the same time, the non-oil and gas trade surplus narrowed from US$15.27 billion in the first quarter to US$12.14 billion in the second. This surplus has long served as an essential cushion, offsetting the deficit generated by energy imports. That cushion is now thinning—and could eventually disappear altogether.Read the Complete Story in Tempo English Magazine","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.48.0","shortVersion":"4.48.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2663902080","isCrawlerRequest":true}