{
    "success": true,
    "data": {
        "id": 1771572,
        "msgid": "rupiah-plummets-1-singapore-dollar-at-rp14-000-1-ringgit-at-rp4-500-1780032161",
        "date": "2026-05-29 10:26:54",
        "title": "Rupiah Plummets: 1 Singapore Dollar at Rp14,000, 1 Ringgit at Rp4,500",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Economy",
        "summary": "The rupiah has hit record lows against the Singapore dollar and Malaysian ringgit, depreciating 7.97% and 9.91% year-to-date respectively. Malaysia's robust trade surplus and economic resilience contrast with Indonesia's fiscal challenges, including a near-3% budget deficit, heightening concerns over investor confidence and currency stability.",
        "content": "<p>The rupiah has officially hit its weakest level in history and a new\npsychological threshold against the Singapore dollar. According to\nRefinitiv data, the rupiah weakened 0.52% to Rp14,000 per SGD, marking\nthe first time in history it has touched this level. Pressure on the\nrupiah against the Singapore dollar has intensified in recent months. At\nthe end of 2025, the SGD\/IDR rate stood at Rp12,957.64, meaning the\nrupiah has weakened by approximately 7.97% year-to-date. The rupiah has\nalso weakened significantly against other regional currencies,\nparticularly the Malaysian ringgit. Refinitiv data shows the rupiah fell\n1.01% against the ringgit as of 9:47 AM WIB, trading at Rp4,502.95 per\nMYR. This marks the first time the rupiah has breached the psychological\nthreshold of Rp4,500 per MYR, setting a new historical low against the\nMalaysian currency. The rupiah\u2019s depreciation against the ringgit has\nbeen ongoing in recent months. Year-to-date, the rupiah has weakened\n9.91% against the ringgit. At the end of 2025, the exchange rate was\nRp4,097.04 per MYR. Pressure intensified in May 2026, with the rate at\nRp4,343.24 on 1 May. Within less than 30 days, the rupiah depreciated by\n3.68% against the ringgit. Why is the Ringgit Strengthening? The\nringgit\u2019s strength against the rupiah stems from Malaysia\u2019s robust trade\nbalance. According to Malaysia\u2019s Department of Statistics (DOSM), total\ntrade in March 2026 grew 9.3% year-on-year to MYR273.0 billion,\nequivalent to approximately Rp1.188 trillion at an exchange rate of\nRp4,352 per MYR. This surpasses the MYR249.8 billion recorded in the\nsame period last year. The growth was driven by increases in both\nexports and imports. Malaysia\u2019s exports rose 8.3% to MYR148.8 billion,\nwhile imports grew 10.4% to MYR124.2 billion. Despite this, the country\nrecorded a trade surplus of MYR24.6 billion in March 2026, though\nslightly narrower by 0.9% compared to the previous year. This trade\nsurplus is a key factor supporting the ringgit. Strong exports and\nhealthy trade flows help maintain foreign exchange supplies,\ncontributing to currency stability. Mohd Afzanizam Abdul Rashid, Chief\nEconomist at Bank Muamalat Malaysia Bhd, stated Malaysia\u2019s economy\nremains resilient. Preliminary estimates indicate Q1 2026 GDP growth\nexceeding 5%. He also noted recent international trade data shows\nMalaysia\u2019s nominal exports grew 12.7% in Q1 2026, higher than the 11.0%\ngrowth in the previous quarter. \u201cThus, Malaysia\u2019s economy is\nwell-positioned to handle current challenges from rising oil prices due\nto the Iran conflict,\u201d said Mohd Afzanizam, quoted by Bernama. While\nMalaysia\u2019s economy remains robust, the ringgit has also benefited from\nsustained foreign investor confidence. This contrasts with Indonesia,\nwhere domestic markets face challenges directly impacting investor\nperceptions of the national economic outlook. A key concern is fiscal\nmanagement. The government\u2019s large-scale programs have led investors to\nclosely monitor public spending and the government\u2019s ability to maintain\nfiscal discipline. Furthermore, the 2025 budget deficit reached 2.92% of\nGDP, nearing the legal maximum of 3% set by law. This has made markets\nincreasingly sensitive to Indonesia\u2019s fiscal policy direction. Amid\npersistent global pressures, investor confidence remains crucial for the\nrupiah\u2019s stability.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/rupiah-plummets-1-singapore-dollar-at-rp14-000-1-ringgit-at-rp4-500-1780032161",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}