Dollar Breaks Record at Rp17,000, Purbaya Confident BI Can 'Fix' the Rupiah

Jakarta, CNBC Indonesia - Finance Minister Purbaya Yudhi Sadewa has spoken out regarding the rupiah exchange rate reaching Rp17,000 per US dollar. According to Refinitiv data, the rupiah closed in the red with a 0.35% depreciation to Rp17,090/US$. This position marks another record as the weakest closing level ever for the Garuda currency. “We leave the rupiah to the central bank, to the experts. I believe they can fix it,” Purbaya said when met by reporters on Tuesday (7/4/2026). According to him, the rupiah exchange rate simulation in the macroeconomic assumptions has been adjusted. Currently, he assesses that the level is still appropriate with the government’s scenario. “So it’s still within the scenario,” he said. The rupiah’s movement throughout today’s trading was influenced by external and domestic sentiments. Externally, the US dollar remains stable amid cautious market players continuing to monitor the escalation of the Iran conflict. Market players’ attention is focused on the latest deadline from US President Donald Trump regarding the reopening of the Strait of Hormuz. Although reports emerged of last-ditch efforts to push for a ceasefire, global markets so far remain overshadowed by uncertainty. This situation has triggered concerns over higher inflation, altering expectations for the direction of global interest rates, while making the US dollar sought after again as a safe-haven asset. As a result, the room for strengthening of other countries’ currencies, including the rupiah, has become increasingly limited.