{ "success": true, "data": { "id": 1648106, "msgid": "us-dollar-breaks-through-rp17-000-rupiah-hits-all-time-low-1775015455", "date": "2026-04-01 10:11:04", "title": "US Dollar Breaks Through Rp17,000, Rupiah Hits All-Time Low", "author": "", "source": "CNBC", "tags": "", "topic": "Finance", "summary": "The Indonesian rupiah has reached its weakest level in history, breaching Rp17,000 per US dollar on Wednesday, following a record closing low of Rp16,990 the previous day amid persistent global uncertainties and strong demand for the dollar. This depreciation marks the second consecutive day of new lows for the currency, despite recent Bank Indonesia measures to bolster foreign exchange liquidity. The article contextualises this event within a history of severe rupiah pressures, from the 1997-98 Asian Financial Crisis to the 2020 Covid-19 pandemic, highlighting recurring vulnerabilities tied to political instability, global shocks, and capital flight.", "content": "

The rupiah exchange rate has once again set a dismal record against\nthe US dollar on Wednesday\u2019s trading (1\/4\/2026). The Garuda currency has\nofficially broken through the Rp17,000\/US$ level, marking the weakest\nintraday position for the rupiah in spot market history. According to\nRefinitiv data, at 09:31 WIB, the rupiah weakened by 0.06% to\nRp17,000\/US.T<\/em>h<\/em>i<\/em>s<\/em>l<\/em>e<\/em>v<\/em>e<\/em>l<\/em>r<\/em>e<\/em>p<\/em>r<\/em>e<\/em>s<\/em>e<\/em>n<\/em>t<\/em>s<\/em>a<\/em>n<\/em>e<\/em>w<\/em>m<\/em>i<\/em>l<\/em>e<\/em>s<\/em>t<\/em>o<\/em>n<\/em>e<\/em>i<\/em>n<\/em>t<\/em>h<\/em>e<\/em>r<\/em>u<\/em>p<\/em>i<\/em>a<\/em>h<\/em>\u2032s<\/em>d<\/em>e<\/em>p<\/em>r<\/em>e<\/em>c<\/em>i<\/em>a<\/em>t<\/em>i<\/em>o<\/em>n<\/em>,\u2006f<\/em>o<\/em>l<\/em>l<\/em>o<\/em>w<\/em>i<\/em>n<\/em>g<\/em>t<\/em>h<\/em>e<\/em>c<\/em>u<\/em>r<\/em>r<\/em>e<\/em>n<\/em>c<\/em>y<\/em>\u2032s<\/em>r<\/em>e<\/em>c<\/em>o<\/em>r<\/em>d<\/em>c<\/em>l<\/em>o<\/em>s<\/em>i<\/em>n<\/em>g<\/em>l<\/em>o<\/em>w<\/em>t<\/em>h<\/em>e<\/em>p<\/em>r<\/em>e<\/em>v<\/em>i<\/em>o<\/em>u<\/em>s<\/em>d<\/em>a<\/em>y<\/em>.O<\/em>n<\/em>T<\/em>u<\/em>e<\/em>s<\/em>d<\/em>a<\/em>y<\/em>\u2032s<\/em>t<\/em>r<\/em>a<\/em>d<\/em>i<\/em>n<\/em>g<\/em>(31\/3\/2026),\u2006t<\/em>h<\/em>e<\/em>r<\/em>u<\/em>p<\/em>i<\/em>a<\/em>h<\/em>c<\/em>l<\/em>o<\/em>s<\/em>e<\/em>d<\/em>d<\/em>o<\/em>w<\/em>n<\/em>a<\/em>s<\/em>l<\/em>i<\/em>g<\/em>h<\/em>t<\/em>0.03<\/span>.\nAlthough still below the psychological Rp17,000\/US$ level, that figure\nbecame the all-time weakest closing position for the rupiah. In fact,\nlooking at intraday movements, pressure on the rupiah had already been\nevident since the previous day\u2019s trading. The rupiah briefly touched\nRp16,998\/US,\u2006w<\/em>h<\/em>i<\/em>c<\/em>h<\/em>w<\/em>a<\/em>s<\/em>t<\/em>h<\/em>e<\/em>n<\/em>t<\/em>h<\/em>e<\/em>w<\/em>e<\/em>a<\/em>k<\/em>e<\/em>s<\/em>t<\/em>i<\/em>n<\/em>t<\/em>r<\/em>a<\/em>d<\/em>a<\/em>y<\/em>l<\/em>e<\/em>v<\/em>e<\/em>l<\/em>.H<\/em>o<\/em>w<\/em>e<\/em>v<\/em>e<\/em>r<\/em>,\u2006a<\/em>d<\/em>a<\/em>y<\/em>l<\/em>a<\/em>t<\/em>e<\/em>r<\/em>,\u2006t<\/em>h<\/em>a<\/em>t<\/em>l<\/em>e<\/em>v<\/em>e<\/em>l<\/em>w<\/em>a<\/em>s<\/em>s<\/em>u<\/em>r<\/em>p<\/em>a<\/em>s<\/em>s<\/em>e<\/em>d<\/em>,\u2006a<\/em>n<\/em>d<\/em>t<\/em>h<\/em>e<\/em>r<\/em>u<\/em>p<\/em>i<\/em>a<\/em>h<\/em>o<\/em>f<\/em>f<\/em>i<\/em>c<\/em>i<\/em>a<\/em>l<\/em>l<\/em>y<\/em>f<\/em>e<\/em>l<\/em>l<\/em>t<\/em>o<\/em>R<\/em>p<\/em>17,\u2006000\/U<\/em>S<\/em><\/span>.\nThus, over two consecutive days, the rupiah has continuously set new\ndepreciation records, from the weakest closing to the all-time weakest\nintraday. Actually, Bank Indonesia (BI) had just implemented foreign\nexchange repo with underlying SVBI and SUVBI at the start of this week,\nwhich was expected to strengthen domestic foreign exchange liquidity and\nsupport rupiah stability. This movement indicates that pressure on the\nrupiah remains very significant amid high global uncertainty and strong\nmarket demand for the US dollar. Looking back, this rupiah weakening\nadds to a long list of extreme pressure episodes experienced by the\nGaruda currency. There have been several crucial periods recorded as the\nmost challenging phases for the rupiah, from monetary crises, domestic\npolitical turmoil, to global shocks that trigger capital flight to\nsafe-haven assets. (1) August-October 1997 The rupiah\u2019s weakening from\nAugust to October 1997 marked the initial phase of the Monetary Crisis\nin Indonesia. During this period, the exchange rate plunged from around\nRp2,500\/US$ to the Rp3,000s\/US.I<\/em>n<\/em>t<\/em>e<\/em>n<\/em>s<\/em>e<\/em>s<\/em>p<\/em>e<\/em>c<\/em>u<\/em>l<\/em>a<\/em>t<\/em>i<\/em>v<\/em>e<\/em>p<\/em>r<\/em>e<\/em>s<\/em>s<\/em>u<\/em>r<\/em>e<\/em>f<\/em>o<\/em>r<\/em>c<\/em>e<\/em>d<\/em>B<\/em>a<\/em>n<\/em>k<\/em>I<\/em>n<\/em>d<\/em>o<\/em>n<\/em>e<\/em>s<\/em>i<\/em>a<\/em>t<\/em>o<\/em>a<\/em>b<\/em>a<\/em>n<\/em>d<\/em>o<\/em>n<\/em>t<\/em>h<\/em>e<\/em>m<\/em>a<\/em>n<\/em>a<\/em>g<\/em>e<\/em>d<\/em>f<\/em>l<\/em>o<\/em>a<\/em>t<\/em>i<\/em>n<\/em>g<\/em>s<\/em>y<\/em>s<\/em>t<\/em>e<\/em>m<\/em>a<\/em>n<\/em>d<\/em>s<\/em>w<\/em>i<\/em>t<\/em>c<\/em>h<\/em>t<\/em>o<\/em>a<\/em>f<\/em>r<\/em>e<\/em>e<\/em>\u2005\u2212\u2005f<\/em>l<\/em>o<\/em>a<\/em>t<\/em>i<\/em>n<\/em>g<\/em>e<\/em>x<\/em>c<\/em>h<\/em>a<\/em>n<\/em>g<\/em>e<\/em>r<\/em>a<\/em>t<\/em>e<\/em>.T<\/em>h<\/em>i<\/em>s<\/em>s<\/em>t<\/em>e<\/em>p<\/em>w<\/em>a<\/em>s<\/em>t<\/em>a<\/em>k<\/em>e<\/em>n<\/em>b<\/em>e<\/em>c<\/em>a<\/em>u<\/em>s<\/em>e<\/em>f<\/em>o<\/em>r<\/em>e<\/em>i<\/em>g<\/em>n<\/em>e<\/em>x<\/em>c<\/em>h<\/em>a<\/em>n<\/em>g<\/em>e<\/em>r<\/em>e<\/em>s<\/em>e<\/em>r<\/em>v<\/em>e<\/em>s<\/em>w<\/em>e<\/em>r<\/em>e<\/em>n<\/em>o<\/em>l<\/em>o<\/em>n<\/em>g<\/em>e<\/em>r<\/em>s<\/em>u<\/em>f<\/em>f<\/em>i<\/em>c<\/em>i<\/em>e<\/em>n<\/em>t<\/em>t<\/em>o<\/em>s<\/em>u<\/em>s<\/em>t<\/em>a<\/em>i<\/em>n<\/em>r<\/em>u<\/em>p<\/em>i<\/em>a<\/em>h<\/em>s<\/em>u<\/em>p<\/em>p<\/em>o<\/em>r<\/em>t<\/em>t<\/em>h<\/em>r<\/em>o<\/em>u<\/em>g<\/em>h<\/em>m<\/em>a<\/em>r<\/em>k<\/em>e<\/em>t<\/em>i<\/em>n<\/em>t<\/em>e<\/em>r<\/em>v<\/em>e<\/em>n<\/em>t<\/em>i<\/em>o<\/em>n<\/em>s<\/em>.T<\/em>h<\/em>e<\/em>w<\/em>o<\/em>r<\/em>s<\/em>e<\/em>n<\/em>i<\/em>n<\/em>g<\/em>d<\/em>e<\/em>p<\/em>r<\/em>e<\/em>c<\/em>i<\/em>a<\/em>t<\/em>i<\/em>o<\/em>n<\/em>t<\/em>h<\/em>e<\/em>n<\/em>p<\/em>r<\/em>o<\/em>m<\/em>p<\/em>t<\/em>e<\/em>d<\/em>t<\/em>h<\/em>e<\/em>g<\/em>o<\/em>v<\/em>e<\/em>r<\/em>n<\/em>m<\/em>e<\/em>n<\/em>t<\/em>t<\/em>o<\/em>s<\/em>e<\/em>e<\/em>k<\/em>a<\/em>s<\/em>s<\/em>i<\/em>s<\/em>t<\/em>a<\/em>n<\/em>c<\/em>e<\/em>f<\/em>r<\/em>o<\/em>m<\/em>t<\/em>h<\/em>e<\/em>I<\/em>n<\/em>t<\/em>e<\/em>r<\/em>n<\/em>a<\/em>t<\/em>i<\/em>o<\/em>n<\/em>a<\/em>l<\/em>M<\/em>o<\/em>n<\/em>e<\/em>t<\/em>a<\/em>r<\/em>y<\/em>F<\/em>u<\/em>n<\/em>d<\/em>(I<\/em>M<\/em>F<\/em>).T<\/em>h<\/em>e<\/em>f<\/em>i<\/em>r<\/em>s<\/em>t<\/em>a<\/em>i<\/em>d<\/em>a<\/em>g<\/em>r<\/em>e<\/em>e<\/em>m<\/em>e<\/em>n<\/em>t<\/em>w<\/em>a<\/em>s<\/em>s<\/em>i<\/em>g<\/em>n<\/em>e<\/em>d<\/em>o<\/em>n<\/em>31O<\/em>c<\/em>t<\/em>o<\/em>b<\/em>e<\/em>r<\/em>1997,\u2006w<\/em>i<\/em>t<\/em>h<\/em>o<\/em>n<\/em>e<\/em>k<\/em>e<\/em>y<\/em>c<\/em>o<\/em>n<\/em>d<\/em>i<\/em>t<\/em>i<\/em>o<\/em>n<\/em>b<\/em>e<\/em>i<\/em>n<\/em>g<\/em>t<\/em>h<\/em>e<\/em>c<\/em>l<\/em>o<\/em>s<\/em>u<\/em>r<\/em>e<\/em>o<\/em>f<\/em>16n<\/em>a<\/em>t<\/em>i<\/em>o<\/em>n<\/em>a<\/em>l<\/em>p<\/em>r<\/em>i<\/em>v<\/em>a<\/em>t<\/em>e<\/em>b<\/em>a<\/em>n<\/em>k<\/em>s<\/em>.(2)M<\/em>a<\/em>y<\/em>\u2005\u2212\u2005J<\/em>u<\/em>n<\/em>e<\/em>1998A<\/em>f<\/em>t<\/em>e<\/em>r<\/em>t<\/em>h<\/em>e<\/em>1997p<\/em>r<\/em>e<\/em>s<\/em>s<\/em>u<\/em>r<\/em>e<\/em>s<\/em>,\u2006t<\/em>h<\/em>e<\/em>r<\/em>u<\/em>p<\/em>i<\/em>a<\/em>h<\/em>e<\/em>n<\/em>t<\/em>e<\/em>r<\/em>e<\/em>d<\/em>i<\/em>t<\/em>s<\/em>d<\/em>a<\/em>r<\/em>k<\/em>e<\/em>s<\/em>t<\/em>p<\/em>h<\/em>a<\/em>s<\/em>e<\/em>i<\/em>n<\/em>M<\/em>a<\/em>y<\/em>t<\/em>o<\/em>J<\/em>u<\/em>n<\/em>e<\/em>1998.R<\/em>e<\/em>f<\/em>i<\/em>n<\/em>i<\/em>t<\/em>i<\/em>v<\/em>d<\/em>a<\/em>t<\/em>a<\/em>s<\/em>h<\/em>o<\/em>w<\/em>s<\/em>t<\/em>h<\/em>a<\/em>t<\/em>o<\/em>n<\/em>16J<\/em>u<\/em>n<\/em>e<\/em>1998,\u2006t<\/em>h<\/em>e<\/em>r<\/em>u<\/em>p<\/em>i<\/em>a<\/em>h<\/em>c<\/em>o<\/em>l<\/em>l<\/em>a<\/em>p<\/em>s<\/em>e<\/em>d<\/em>t<\/em>o<\/em>i<\/em>t<\/em>s<\/em>a<\/em>l<\/em>l<\/em>\u2005\u2212\u2005t<\/em>i<\/em>m<\/em>e<\/em>l<\/em>o<\/em>w<\/em>e<\/em>s<\/em>t<\/em>c<\/em>l<\/em>o<\/em>s<\/em>i<\/em>n<\/em>g<\/em>l<\/em>e<\/em>v<\/em>e<\/em>l<\/em>o<\/em>f<\/em>15,\u2006200\/U<\/em>S<\/em><\/span>.\nHowever, intraday, it briefly reached 16,800\/US.T<\/em>h<\/em>i<\/em>s<\/em>e<\/em>x<\/em>t<\/em>r<\/em>e<\/em>m<\/em>e<\/em>p<\/em>r<\/em>e<\/em>s<\/em>s<\/em>u<\/em>r<\/em>e<\/em>o<\/em>c<\/em>c<\/em>u<\/em>r<\/em>r<\/em>e<\/em>d<\/em>a<\/em>s<\/em>t<\/em>h<\/em>e<\/em>e<\/em>c<\/em>o<\/em>n<\/em>o<\/em>m<\/em>i<\/em>c<\/em>c<\/em>r<\/em>i<\/em>s<\/em>i<\/em>s<\/em>e<\/em>x<\/em>p<\/em>a<\/em>n<\/em>d<\/em>e<\/em>d<\/em>i<\/em>n<\/em>t<\/em>o<\/em>a<\/em>p<\/em>o<\/em>l<\/em>i<\/em>t<\/em>i<\/em>c<\/em>a<\/em>l<\/em>a<\/em>n<\/em>d<\/em>s<\/em>o<\/em>c<\/em>i<\/em>a<\/em>l<\/em>c<\/em>r<\/em>i<\/em>s<\/em>i<\/em>s<\/em>.T<\/em>h<\/em>e<\/em>s<\/em>h<\/em>o<\/em>o<\/em>t<\/em>i<\/em>n<\/em>g<\/em>o<\/em>f<\/em>T<\/em>r<\/em>i<\/em>s<\/em>a<\/em>k<\/em>t<\/em>i<\/em>U<\/em>n<\/em>i<\/em>v<\/em>e<\/em>r<\/em>s<\/em>i<\/em>t<\/em>y<\/em>s<\/em>t<\/em>u<\/em>d<\/em>e<\/em>n<\/em>t<\/em>s<\/em>o<\/em>n<\/em>12M<\/em>a<\/em>y<\/em>1998t<\/em>r<\/em>i<\/em>g<\/em>g<\/em>e<\/em>r<\/em>e<\/em>d<\/em>m<\/em>a<\/em>s<\/em>s<\/em>i<\/em>v<\/em>e<\/em>r<\/em>i<\/em>o<\/em>t<\/em>s<\/em>,\u2006l<\/em>o<\/em>o<\/em>t<\/em>i<\/em>n<\/em>g<\/em>,\u2006a<\/em>n<\/em>d<\/em>a<\/em>r<\/em>s<\/em>o<\/em>n<\/em>i<\/em>n<\/em>J<\/em>a<\/em>k<\/em>a<\/em>r<\/em>t<\/em>a<\/em>a<\/em>n<\/em>d<\/em>s<\/em>e<\/em>v<\/em>e<\/em>r<\/em>a<\/em>l<\/em>o<\/em>t<\/em>h<\/em>e<\/em>r<\/em>c<\/em>i<\/em>t<\/em>i<\/em>e<\/em>s<\/em>,\u2006c<\/em>a<\/em>u<\/em>s<\/em>i<\/em>n<\/em>g<\/em>i<\/em>n<\/em>v<\/em>e<\/em>s<\/em>t<\/em>o<\/em>r<\/em>s<\/em>t<\/em>o<\/em>w<\/em>i<\/em>t<\/em>h<\/em>d<\/em>r<\/em>a<\/em>w<\/em>f<\/em>u<\/em>n<\/em>d<\/em>s<\/em>e<\/em>n<\/em>m<\/em>a<\/em>s<\/em>s<\/em>e<\/em>.U<\/em>n<\/em>c<\/em>e<\/em>r<\/em>t<\/em>a<\/em>i<\/em>n<\/em>t<\/em>y<\/em>p<\/em>e<\/em>a<\/em>k<\/em>e<\/em>d<\/em>w<\/em>h<\/em>e<\/em>n<\/em>P<\/em>r<\/em>e<\/em>s<\/em>i<\/em>d<\/em>e<\/em>n<\/em>t<\/em>S<\/em>o<\/em>e<\/em>h<\/em>a<\/em>r<\/em>t<\/em>o<\/em>r<\/em>e<\/em>s<\/em>i<\/em>g<\/em>n<\/em>e<\/em>d<\/em>o<\/em>n<\/em>21M<\/em>a<\/em>y<\/em>1998,\u2006w<\/em>h<\/em>i<\/em>l<\/em>e<\/em>t<\/em>h<\/em>e<\/em>m<\/em>a<\/em>r<\/em>k<\/em>e<\/em>t<\/em>r<\/em>e<\/em>m<\/em>a<\/em>i<\/em>n<\/em>e<\/em>d<\/em>d<\/em>o<\/em>u<\/em>b<\/em>t<\/em>f<\/em>u<\/em>l<\/em>a<\/em>b<\/em>o<\/em>u<\/em>t<\/em>t<\/em>h<\/em>e<\/em>s<\/em>t<\/em>a<\/em>b<\/em>i<\/em>l<\/em>i<\/em>t<\/em>y<\/em>o<\/em>f<\/em>t<\/em>h<\/em>e<\/em>n<\/em>e<\/em>w<\/em>g<\/em>o<\/em>v<\/em>e<\/em>r<\/em>n<\/em>m<\/em>e<\/em>n<\/em>t<\/em>u<\/em>n<\/em>d<\/em>e<\/em>r<\/em>B<\/em>.J<\/em>.H<\/em>a<\/em>b<\/em>i<\/em>b<\/em>i<\/em>e<\/em>.(3)A<\/em>p<\/em>r<\/em>i<\/em>l<\/em>2001E<\/em>n<\/em>t<\/em>e<\/em>r<\/em>i<\/em>n<\/em>g<\/em>t<\/em>h<\/em>e<\/em>r<\/em>e<\/em>f<\/em>o<\/em>r<\/em>m<\/em>e<\/em>r<\/em>a<\/em>,\u2006t<\/em>h<\/em>e<\/em>r<\/em>u<\/em>p<\/em>i<\/em>a<\/em>h<\/em>f<\/em>a<\/em>c<\/em>e<\/em>d<\/em>r<\/em>e<\/em>n<\/em>e<\/em>w<\/em>e<\/em>d<\/em>p<\/em>r<\/em>e<\/em>s<\/em>s<\/em>u<\/em>r<\/em>e<\/em>i<\/em>n<\/em>A<\/em>p<\/em>r<\/em>i<\/em>l<\/em>2001,\u2006t<\/em>r<\/em>a<\/em>d<\/em>i<\/em>n<\/em>g<\/em>b<\/em>e<\/em>t<\/em>w<\/em>e<\/em>e<\/em>n<\/em>R<\/em>p<\/em>10,\u2006500a<\/em>n<\/em>d<\/em>R<\/em>p<\/em>12,\u2006000\/U<\/em>S<\/em><\/span>.\nThe main trigger was rising political uncertainty, as tensions between\nPresident Abdurrahman Wahid (Gus Dur) and the DPR and MPR culminated in\nplans for a special session to impeach the president. At the same time,\nrelations with the IMF deteriorated due to delayed loan disbursements,\nas economic reforms were deemed to be progressing slowly, worsening\nforeign exchange market sentiment. (4) October-November 2008 One of the\nrupiah\u2019s dark periods also occurred in 2008. From October to November\nthat year, pressure on the rupiah came from abroad through the Global\nFinancial Crisis, which began with the collapse of the US housing market\nand peaked with Lehman Brothers\u2019 bankruptcy in September 2008. Panic led\nglobal investors to pull funds from emerging markets and shift them to\nsafe assets like the US dollar and US government bonds. The rupiah,\nwhich had been stable around Rp9,000\/US$ in August 2008, then fell to\nRp12,100 to Rp12,600\/US$ in November 2008. (5) September 2015\nSignificant pressure on the rupiah re-emerged in 2015. Up to 14\nSeptember 2015, the rupiah had weakened by 15.87% for the year, closing\nat Rp14,645\/US$ that month. The depreciation was triggered by reduced\nforeign capital inflows due to global sentiment, particularly the US\nFederal Reserve\u2019s monetary policy normalisation and China\u2019s yuan\ndevaluation. With high foreign exchange needs not matched by supply in\nthe market, excess demand for foreign currency caused the rupiah to\nremain under pressure throughout the first half of 2015. (6)\nSeptember-October 2018 From September to October 2018, the rupiah\nweakened amid turmoil in several emerging markets. The rupiah closed at\nRp15,230\/US$ on 11 October 2018. Externally, the weakening of the\nTurkish lira, Argentine peso, and other currencies led investors to\nchase safe-haven assets like the US dollar, yen, and US Treasury bonds.\n(7) March 2020 One of the deeper rupiah weakening moments occurred in\nMarch 2020. The exchange rate briefly touched Rp16,550\/US$ and plunged\n13.67% throughout March 2020, even breaching the psychological\nRp16,000\/US$ level, the weakest since the 1998 crisis. The main trigger\nwas global panic due to the Covid-19 pandemic. The announcement of\nIndonesia\u2019s first case in early March and plans for activity\nrestrictions fu<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/us-dollar-breaks-through-rp17-000-rupiah-hits-all-time-low-1775015455", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }