Dollar Comfortably Above Rp17,100, BI Chief: Rupiah Undervalued!

Jakarta, CNBC Indonesia - Bank Indonesia Governor Perry Warjiyo has emphasised that the current exchange rate of the rupiah against the US dollar, comfortably at levels above Rp17,000 per dollar, is already undervalued. Undervalued is a term describing an exchange rate that is lower than its fundamental value. “We emphasise that the rupiah is currently undervalued compared to its fundamentals,” Perry said during the press conference following the BI Board of Governors meeting on Wednesday (22/4/2026). According to him, the rupiah’s fundamentals are actually tending towards strength, in line with the stable economic fundamentals. Therefore, he assesses that the rupiah’s exchange rate has the potential to strengthen going forward. “BI believes the rupiah will stabilise and strengthen, supported by BI’s commitments, attractive yields, and Indonesia’s good economic prospects,” Perry explained. As is known, the rupiah opened stronger against the US dollar in this morning’s trading on Wednesday (22/4/2026). Citing Refinitiv data, the Garuda currency started trading in the green zone with an appreciation of 0.06% to Rp17,130/US.ThisstrengtheningcontinuesthepositivetrendaftertheprevioustradingcloseonTuesday(21/4/2026), whentherupiahalsomanagedtostrengthenby0.15. Meanwhile, the US dollar index (DXY), which measures the greenback’s strength against six major world currencies, was observed to weaken slightly by 0.04% to 98.353 at 09:00 WIB. Nevertheless, in the previous trading, the DXY had sharply strengthened by 0.30% to 98.394.