Bank Indonesia Comments on Rupiah's Continued Weakening to Rp 17,400 per US Dollar
Jakarta, VIVA – Bank Indonesia (BI), through the Head of the Monetary and Securities Management Department, Erwin G. Hutapea, has spoken out regarding the ongoing weakening of the rupiah exchange rate to the Rp 17,400 level, amid escalating geopolitical tensions.
He emphasised that BI will continue to be present in the market to ensure the market mechanism runs smoothly, in order to maintain the stability of the rupiah exchange rate in line with its fundamental value.
“The rupiah’s movement since the beginning of the conflict in the Middle East until now has still been in line with the majority of other emerging market currencies,” said Erwin in his statement on Tuesday, 5 May 2026.
He elaborated that the Philippine peso was observed to have weakened by 6.58% against the US dollar. Then the Thai baht weakened by 5.04%, and the Indian rupee by 4.32%.
“Likewise, the Chilean peso -4.24%, the Indonesian rupiah -3.65%, and the Korean won -2.29%,” he said.
Erwin added that BI will continue to optimise interventions in the foreign exchange market through Non-Deliverable Forward (NDF) transactions in the offshore market, spot transactions and Domestic Non-Deliverable Forward (DNDF) in the domestic market, as well as purchases of government bonds in the secondary market.
“This step is carried out consistently to maintain rupiah exchange rate stability amid ongoing global pressures,” said Erwin.
“BI is also committed to always being present in the market and taking necessary steps consistently and measurably to maintain rupiah exchange rate stability,” he stated.
It is known that the rupiah exchange rate against the US dollar on trading in the spot market on Tuesday, 5 May 2026 at 10:17 WIB, was transacted at Rp 17,430 per US dollar.
An economist and money market observer, Ibrahim Assuaibi, predicts that the rupiah exchange rate this week is likely to truly reach the Rp 17,550 per US dollar level.
“Regarding the rupiah that has weakened above Rp 17,400, my own target for this week is Rp 17,550, which is very likely to be achieved,” said Ibrahim to the media on Tuesday, 5 May 2026.