JAKARTA, KOMPAS.com - Forbes has released a list of the 10 weakest\ncurrencies in the world as of 7 April 2026. The rupiah is included in\nthat list.<\/p>\n
The data is taken from open exchange rates. The ranking is compiled\nbased on the exchange rate against the US dollar, namely the number of\ncurrency units equivalent to 1 US dollar.<\/p>\n
This approach places the rupiah in fifth position. The rupiah\u2019s\nexchange rate is around Rp 17,066 per US dollar.<\/p>\n
The first position is occupied by the Iranian rial with an exchange\nrate of around 1 US dollar equivalent to 1,315,800 rials.<\/p>\n
The second and third positions are filled by the Lebanese pound and\nthe Vietnamese dong. Their exchange rates are respectively around\n89,565.64 Lebanese pounds and 26,336.58 Vietnamese dong per US\ndollar.<\/p>\n
The fourth position is taken by the Laotian kip with an exchange rate\nof 22,065.41 per US dollar.<\/p>\n
\u201cIn terms of GDP, this country (Indonesia) is the largest in\nSoutheast Asia, particularly due to its services sector. Indonesia is\nalso rich in commodities, but its national currency has depreciated\ncompared to other countries due to a combination of high inflation and\nrecession concerns,\u201d wrote Forbes on Tuesday (7\/4\/2026).<\/p>\n
However, the list is considered not to reflect the actual\nsituation.<\/p>\n
Bank Permata\u2019s Chief Economist Josua Pardede assesses that the\nranking is only accurate in a very limited context.<\/p>\n
\u201cIn my view, Forbes\u2019 statement is only true in a very narrow sense,\nnamely from the nominal exchange rate per 1 US dollar, not from the\nperspective of the currency\u2019s fundamental strength,\u201d he told Kompas.com\non Saturday (18\/4\/2026).<\/p>\n
According to Josua, the nominal approach makes currencies with large\ndenominations appear weak.<\/p>\n
This assessment does not depict the overall economic strength.<\/p>\n
He emphasised that the rupiah is not among the currencies with the\ndeepest depreciation when viewed from exchange rate performance.<\/p>\n
Bloomberg data shows that the rupiah\u2019s depreciation is relatively\nmore controlled compared to several other currencies.<\/p>\n
\u201cSo nominally, the rupiah is a high-denomination currency, but in\nterms of performance and fundamentals, Forbes\u2019 conclusion is very\nmisleading if read without context,\u201d he stressed.<\/p>\n
Based on this indicator, the rupiah is below the 100 level. This\ncondition indicates that the rupiah tends to be undervalued compared to\nthe base year of 2020.<\/p>\n
The current exchange rate is around 2 to 5 percent weaker than the\nfundamental value. This situation opens up room for strengthening if\nglobal pressures ease.<\/p>\n
Domestic economic fundamentals are also considered to remain strong.\nEconomic growth in 2025 was recorded at 5.11 percent.<\/p>\n
Inflation in March 2026 was at 3.48 percent. Foreign exchange\nreserves reached around 148.2 billion US dollars.<\/p>\n
Investment realisation in 2025 exceeded the target of Rp 1,931.2\ntrillion.<\/p>\n
From the banking sector, credit in February 2026 grew by 9.37\npercent. Deposits grew by 13.18 percent.<\/p>\n
\u201cSo, if reading the rupiah through the lens of REER, growth, foreign\nreserves, investment, and financial system resilience, the rupiah is\nmore accurately described as under pressure from global sentiment, not a\nfundamentally damaged currency,\u201d he stated.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/forbes-claims-rupiah-is-one-of-the-worlds-weakest-currencies-is-this-true-1776649848", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }