{"id":6470,"date":"2026-01-21T03:55:53","date_gmt":"2026-01-21T03:55:53","guid":{"rendered":"https:\/\/himdasun.or.id\/?p=6470"},"modified":"2026-01-21T03:55:54","modified_gmt":"2026-01-21T03:55:54","slug":"depresiasi-rupiah-bawa-yield-sun-10-tahun-melemah-ke-633","status":"publish","type":"post","link":"https:\/\/himdasun.or.id\/en\/2026\/01\/21\/depresiasi-rupiah-bawa-yield-sun-10-tahun-melemah-ke-633\/","title":{"rendered":"Depresiasi Rupiah Bawa Yield SUN 10 Tahun Melemah ke 6,33%"},"content":{"rendered":"<p><strong>Rupiah mendekati Rp17.000\/USD melemahkan yield SBN 10 tahun ke 6,33%, dipicu risiko geopolitik dan defisit fiskal yang meningkat.<\/strong><\/p>\n\n\n\n<p>Penulis : I Putu Gede Rama Paramahamsa <\/p>\n\n\n\n<p><strong>Bisnis.com, JAKARTA<\/strong> \u2013 Depresiasi rupiah yang kian mendekati Rp17.000 per dolar AS diikuti oleh pelemahan <em>yield\u00a0<\/em>Surat Berharga Negara (SBN) bertenor 10 tahun. Adapun, kombinasi pelemahan rupiah dan tensi geopolitik global membuat risiko terhadap SBN kian tinggi.\u00a0 Berdasarkan data Penilai Harga Efek Indonesia (PHEI), yield SBN 10 tahun terparkir di level 6,33% hari ini Selasa (20\/1\/2026). Sementara itu, nilai tukar rupiah terhadap dolar AS mengalami koreksi 0,01% ke Rp16.956 per dolar AS.\u00a0 Ekonom KB Valbury Sekuritas Fikri C. Permana mengatakan kombinasi dari kondisi rupiah dan tensi geopolitik yang meningkat, telah membuat risiko terhadap SBN kian tinggi.\u00a0 \u201cTapi saya tidak menampik juga kalau bahwa depresiasi rupiah ini bikin risiko SBN makin tinggi sekarang. Dan bukan sebenarnya kepada penjualan, tetapi investor meminta risk premium yang lebih tinggi,\u201d katanya, Selasa (20\/1\/2026).<\/p>\n\n\n\n<p>Dari dalam negeri, terdapat kekhawatiran terhadap defisit fiskal yang melebar dengan realisasi defisit APBN 2025 tercatat sebesar 2,92% dari PDB. Belakangan, angka ini memicu kekhawatiran lantaran dinilai sangat tipis di bawah mandatori batas defisit fiskal dalam UU Nomor 17\/2003 tentang Keuangan Negara. <\/p>\n\n\n\n<p>Belum lagi, Kementerian Keuangan (Kemenkeu) mencatat penerimaan pajak mencapai Rp1.917,6 triliun sepanjang 2025. Realisasi itu hanya setara 87,6% dari target APBN 2025 sebesar Rp2.189,3 triliun. Artinya, <em>shortfall<\/em> atau realisasi penerimaan pajak kurang Rp271,7 triliun dari target. \u201cTapi kalau melihat dari kondisinya memang ada\u00a0<em>sell-off<\/em>\u00a0yang terjadi di pasar SBN. Di saat yang sama juga sebenarnya di\u00a0equity\u00a0ada\u00a0<em>net-buy<\/em>\u00a0dari asing. Penyimbang sebenarnya itu,\u201d tegasnya. <\/p>\n\n\n\n<p>Head of Fixed Income Anugerah Sekuritas Indonesia Ramdhan Ario Maruto, menilai bahwa secara historis kondisi pasar obligasi Tanah Air cenderung tumbuh pada awal tahun. Hal itu terjadi lantaran pengelola dana besar dari global tengah mencari instrumen investasi di negara-negara <em>emerging market<\/em>. Namun, kondisinya saat ini dinilai berbeda. Sejumlah tantangan geopolitik mendorong investor untuk lebih was-was dalam menginvestasikan dananya ke\u00a0<em>emerging market<\/em>. Beberapa kondisi seperti ketegangan AS dan Venezuela atau rencana peningkatan tarif impor AS terhadap sejumlah negara Eropa. \u201cItu yang cukup mengganggu masyarakat, dengan ketidakpastian yang ada di pasar itu sendiri. Itu juga membuat beberapa mata uang termasuk rupiah melemah,\u201d katanya kepada\u00a0Bisnis, Selasa (20\/1\/2026).<br><\/p>\n\n\n\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>Rupiah mendekati Rp17.000\/USD melemahkan yield SBN 10 tahun ke 6,33%, dipicu risiko geopolitik dan defisit fiskal yang meningkat. Penulis : [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[13],"tags":[34,26,57,40,58],"class_list":["post-6470","post","type-post","status-publish","format-standard","hentry","category-informasi","tag-nilai-tukar","tag-rupiah","tag-sun","tag-surat-utang","tag-yield"],"_links":{"self":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/6470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/comments?post=6470"}],"version-history":[{"count":2,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/6470\/revisions"}],"predecessor-version":[{"id":6472,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/6470\/revisions\/6472"}],"wp:attachment":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/media?parent=6470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/categories?post=6470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/tags?post=6470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}