Dollar at Rp17,100, But Rupiah Stronger Than These 7 Currencies

Jakarta, CNBC Indonesia - The ongoing weakening of the rupiah exchange rate against the US dollar up to today, Monday (13/4/2026), is not as severe as the currencies of other countries with economic capacities equivalent to Indonesia. Director of Economic Stabilisation Strategy at the Directorate General of Economic and Fiscal Strategy (DJSEF) of the Ministry of Finance, Noor Faisal Achmad, emphasised that this better volatility of the rupiah is due to Indonesia’s strong economic fundamentals. This is evident from the manufacturing purchasing managers’ index (PMI) still at an expansion level of 50.1 in March 2026, to credit growth still reaching around 9.37% year-on-year. “So the pressure on Indonesia is still moderate compared to peers. The rupiah depreciation is still under control,” said Faisal at the Central Banking Forum 2026 CNBC Indonesia, Monday (13/4/2026). Based on Bank Indonesia’s records, the rupiah volatility index is indeed still the lowest compared to seven other countries, at just 4.75. Those seven countries include the Indian rupee at 8.92, Philippine peso at 10.55, Thai baht at 12.40, Mexican peso at 13.20, Brazilian real at 13.69, Argentine peso at 14.50, and South African rand at 16.34. The rupiah’s depreciation or weakening is also better than many countries, even though its value has reached Rp17,100 per US dollar. BI noted that the depreciation up to this week since the beginning of the year is only 2.91%, compared to the Korean won at 2.85% against the US dollar, Indian rupee at 3.08%, and Turkish lira at 3.69%. “So Indonesia is strong compared to peers, inflation is controlled, fiscal policy is prudent, we maintain a prudent deficit. The debt ratio is below the 60% limit,” said Faisal.