{
    "success": true,
    "data": {
        "id": 1823243,
        "msgid": "rupiah-weakens-indonesians-flock-to-save-in-us-dollars-1782373936",
        "date": "2026-06-25 14:15:10",
        "title": "Rupiah Weakens, Indonesians Flock to Save in US Dollars",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Banking",
        "summary": "Foreign currency savings in Indonesian banks surged by 29.9% year-on-year in May 2026, far outpacing the 7.3% growth in rupiah deposits. The trend reflects a shift in public and business preference towards the US dollar as a safe haven amid persistent pressure on the rupiah. The weakening local currency, which depreciated 3.6% against the dollar in 2025, has also inflated the rupiah value of existing foreign currency accounts.",
        "content": "<p>Third-party funds in the form of foreign currency savings at\nIndonesian banks are growing rapidly, with the increase far more\naggressive than that of rupiah-denominated savings. According to Bank\nIndonesia\u2019s money supply report for May 2026, rupiah savings remained\nthe largest nominally, recorded at Rp2,904.2 trillion. This figure is\nstill substantial but slightly down from Rp2,914.6 trillion the previous\nmonth. The opposite trend is evident in foreign currency savings. In the\nsame period, foreign currency savings were recorded at Rp260.9 trillion,\na significant increase from Rp246.1 trillion in April 2026. This means\nthat in just one month, foreign currency savings grew by approximately\nRp14.8 trillion, while rupiah savings fell by around Rp10 trillion.\nSince the beginning of the year, the increase in foreign currency\nsavings has been very consistent. In January 2026, foreign currency\nsavings stood at Rp218.6 trillion, rising to Rp219 trillion in February,\nsurging to Rp242.9 trillion in March, climbing again to Rp246.1 trillion\nin April, and reaching Rp260.9 trillion in May. On a year-to-date basis,\nforeign currency deposits in banks have increased by Rp51.8 trillion. A\nclearer picture emerges from the annual growth rate. In May 2026, rupiah\nsavings grew by 7.3% year-on-year, up from 6.6% in April. However,\nforeign currency savings growth was much faster, soaring 29.9%\nyear-on-year in May, the highest level in the available data series.\nThis rapid growth is not a one-off event; since the start of 2026,\ngrowth has consistently been in double digits. The surge in foreign\ncurrency savings is closely linked to the rupiah\u2019s recent pressure\nagainst the US dollar. Throughout 2025, the rupiah weakened by 3.6%\nagainst the dollar, underperforming regional peers like the Malaysian\nringgit, Singapore dollar, and Thai baht, which all strengthened. In\nsuch conditions, individuals and businesses become more cautious, often\nviewing dollar savings as safer amid global financial volatility.\nPractical needs also play a role, as importers and those with foreign\ncurrency obligations or overseas expenses require dollar holdings.\nConsequently, foreign currency savings are growing much faster than\nrupiah savings, with interest in dollar deposits strengthening as the\nrupiah remains under pressure.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/rupiah-weakens-indonesians-flock-to-save-in-us-dollars-1782373936",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}