JISDOR Explained: Why the Rupiah Has More Than One Rate and Which One Your Bank Uses
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5 min read
On 6 October 2026, Bank Indonesia's official dollar rate was Rp17,917 per US dollar. If you had sent $1,000 abroad that day through a bank, you would not have paid Rp17,917,000. You would have paid more.
Why? Because the rupiah has more than one rate. The JISDOR rate is one of them. Your bank uses another. This guide shows how they differ, in plain words.
JISDOR stands for Jakarta Interbank Spot Dollar Rate. It is Bank Indonesia's reference price for one US dollar in rupiah.
"Interbank" means trades between banks. "Spot" means a trade settled right away, not at a future date. So JISDOR is built from real dollar trades between banks in Indonesia. Bank Indonesia describes it as a USD/IDR spot price based on those transactions (Bank Indonesia, via search summary).
It is a benchmark. Think of it as the market's average price, not a shop price.
Many articles still say JISDOR is published at 10:00 WIB. That was true when it started in 2013.
Since 5 April 2021 the window was widened to 08:00 to 16:00 WIB, and publication moved to 16:15 WIB (Kontan). Bank Indonesia's own page now shows a data window of 09:00 to 15:00 WIB and publication at 15:15 WIB, under a 2026 amendment (search summary, retrieved 14 October 2026).
The simple lesson: JISDOR is an end of day number. If no interbank trade happens in the window, it shows the previous working day's rate.
Here is the short map.
| Rate | Who sets it | What it is |
|---|---|---|
| JISDOR | Bank Indonesia | Spot benchmark from interbank trades |
| Live spot rate | The market, minute by minute | What banks trade at right now (Bloomberg, Reuters) |
| BI transaction rate | Bank Indonesia | Buy and sell rates for BI's own deals, with a middle point from JISDOR |
| Your bank's rate | Your bank | Separate buy and sell prices for customers |
Let us take them one by one.
The spot rate moves all day. News sites quote it at lunchtime or at the close. JISDOR is a single daily snapshot built from that flow, so it will rarely match the exact number you see on your screen.
Bank Indonesia also publishes a transaction rate, with a buy price and a sell price. It is used for BI's own transactions with third parties, such as the government. It comes out each working day at 08:00 WIB. Its middle point uses the JISDOR of the previous working day (Kontan, via search summary).
So the "middle rate" you hear about is built from JISDOR. It is not a separate market price.
Your bank does not trade with you at the benchmark. It quotes two prices:
The sell rate is always higher than the buy rate. The gap is how the bank earns money. If you buy dollars to send abroad, you pay the sell rate.
The spread below is invented to show the math. It is not a real bank quote.
Say you want to send $1,000 to a school abroad. JISDOR is Rp17,917 (6 October 2026). Your bank's sell rate is Rp18,067, which is Rp150 above.
You did not pay a fee. The cost was hidden in the rate.
How big is the real gap? On one day in 2026, bank sell rates sat 60 to 380 points above the live spot rate, depending on the bank and transaction type (IDN Financials, report undated in the version we saw, Bloomberg spot about Rp16,920 at noon). The gap changes by bank, channel and day, so treat that range as one snapshot, not a rule.
Three plain reasons:
Use the rate that fits your job.
If you hold US stocks or dollar assets, your return in rupiah depends on the exchange rate. We show how big that effect can be in our post on IHSG returns in dollars versus rupiah.
When your holdings are in dollars, which rate you use to value them matters a little. A benchmark rate gives a clean, comparable number. Your bank's buy rate shows what you would receive if you sold today.
Open the NetWort Macro Context page. Look at the USD/IDR line. Then check your bank's sell rate for today and work out the gap in rupiah, using the same steps as the example above.