BI Speaks Out as US Dollar Nears Rp17,900

Jakarta, CNBC Indonesia – Bank Indonesia (BI) has commented on the continued pressure on the rupiah against the US dollar, which has nearly reached Rp 17,900 per dollar today. The rupiah settled at its lowest level in recent history at Rp 17,865 per dollar, depreciating 0.51% by the close of trading today. This weakness extends the currency’s five-day consecutive decline. According to Refinitiv data, the rupiah traded between Rp 17,800 and Rp 17,885 per dollar during the session, bringing it closer to the psychological threshold of Rp 17,900. Ramdan Denny Prakoso, BI’s Head of Communication, stated that pressure on the rupiah continues due to ongoing global uncertainties stemming from developments in the Middle East conflict. “Additionally, there is a seasonal increase in foreign exchange demand, including for foreign debt repayments and dividend repatriation, amid limited US dollar inflows,” Ramdan Denny said in a written statement on Friday, 29 May 2026. Ramdan Denny assured that BI remains committed to intervening in the market to maintain rupiah stability, around the world, around the clock. This commitment is implemented by optimising foreign exchange market interventions through Non-Deliverable Forward (NDF) transactions in the offshore market, spot transactions and Domestic Non-Deliverable Forward (DNDF) in the domestic market, and consistent, measured purchases of SBNs in the secondary market. Furthermore, BI continues to enhance the effectiveness of its monetary policy mix by strengthening pro-market interest rate structures to maintain the attractiveness of domestic financial assets and support foreign capital inflows. On the US dollar demand side, BI has set a threshold for cash purchases of foreign currency against the rupiah without underlying transactions at USD 25,000 per entity per month, effective June 2026. According to Ramdan Denny, BI is also strengthening coordination with relevant authorities to support financial market and exchange rate stability, including enhanced monitoring of banks and corporations with high US dollar purchasing activity. “BI will continue to monitor global and domestic financial market developments and consistently implement necessary measures to maintain rupiah exchange rate stability and support Indonesia’s external economic resilience,” he added.