Bank Indonesia Monitors Financial Markets 24 Hours During Nyepi and Lebaran 2026 Holiday Breaks to Maintain Rupiah Stability
Bank Indonesia (BI) has assured that it will continue to monitor financial markets to safeguard the stability of the rupiah exchange rate during the extended Nyepi and Idul Fitri holiday break in 2026.
Deputy Governor Destry Damayanti stated that, although the domestic market will be closed, the central bank will remain vigilant regarding global market dynamics, which are beset by uncertainty caused by Middle Eastern conflicts.
“During this extended holiday, the domestic market is closed, but markets outside it are not. This is what we will continuously monitor—24 hours we continue to track the rupiah-US dollar market,” Destry said at the Bank Indonesia monetary policy decision press conference in March 2026 on Tuesday (17 March 2026).
Furthermore, Bank Indonesia is maintaining close coordination with its overseas representative offices, including in New York, United States, to ensure that policy responses can be implemented swiftly should significant pressure on the rupiah emerge.
“So we will continue to monitor financial market dynamics, even though we are on holiday,” Destry said.
Under certain conditions, Bank Indonesia does not rule out direct intervention in the global non-deliverable forward (NDF) market to dampen exchange rate volatility.
“Should it be necessary, we will also enter the market to conduct intervention,” he stated.
The rupiah exchange rate on 16 March 2026 stood at Rp 16,985 per US dollar, weakening 1.29 per cent (point to point) compared with the end-February 2026 level. Throughout March 2026, the rupiah has depreciated approximately 1.29 per cent (month-to-date).
However, this pressure is relatively more contained compared with several other emerging market economies such as India, the Philippines, and Thailand, which have respectively depreciated 1.52 per cent, 3.71 per cent, and 4.47 per cent.
“This means we in this region are indeed facing similar challenges. However, at Bank Indonesia we will certainly remain focused on maintaining that stability,” he concluded.