BI Attributes Rupiah Weakening to Global Uncertainty
The rupiah continued to trade above the 17,200 level per US dollar on Thursday morning, 23 April 2026, even briefly breaching 17,300. Citing Trading Economics data, the dollar steadily climbed to Rp 17,306 at 14:40.
Senior Deputy Governor of BI Destry Damayanti stated that the rupiah’s movements remain in line with the region, with a year-to-date weakening of 3.54 per cent. “Today’s pressure on the rupiah is influenced by rising global uncertainties that are also pressuring regional currencies,” she said in an official statement on Thursday, 23 April 2026.
Amid this pressure, she assessed that Bank Indonesia continues to increase the intensity of interventions to maintain exchange rate stability. The central bank is also strengthening the structure of interest rates for pro-market monetary instruments, aiming to preserve the attractiveness of domestic assets amid the ongoing impact of the Middle East conflict.
Stabilisation measures are being carried out consistently through interventions in the offshore market (NDF), domestic market (spot and DNDF), and purchases of government bonds in the secondary market. Destry also assured that foreign exchange reserves remain strong at US$148.2 billion as of the end of March 2026. Reserves of this magnitude are considered sufficient to withstand pressures.
“Bank Indonesia is always present in the market and will continue to take necessary steps consistently and measurably to maintain rupiah exchange rate stability,” she said.
Bank Indonesia’s Jakarta Interbank Spot Dollar Rate (Jisdor) data showed the rupiah traded at 17,179 per US dollar yesterday, Wednesday, 22 April. The dollar value has consistently hovered around 17,000 since the beginning of this month.
Director of PT Traze Andalan Futures Ibrahim Assuabi stated that the rupiah breaching above 17,300 has exceeded initial expectations. “It is likely that by the end of April, next week, it will break through 17,400 per US dollar,” he said in an official statement on Thursday, 23 April 2026.
Ibrahim stated that this condition is influenced by external factors from the conflict in the Middle East. This week’s meeting between the US and Iran, facilitated by Pakistan, failed to reach an agreement because Iran did not participate in the negotiations. “Because America has already violated weapons rules by seizing an Iranian tanker passing through the Strait of Hormuz,” he said.