Dollar Exchange Rate Hits Rp17,600: Prabowo Responds

Jakarta, CNBC Indonesia - Indonesian President Prabowo Subianto has spoken out regarding the weakening exchange rate of the Rupiah against the US dollar, which has now reached Rp17,600 per US$. Although the Rupiah has touched its weakest point in history, Prabowo dismissed negative views about Indonesia’s economic condition.

In his speech during the inauguration of the Marsinah Museum in Nganjuk, East Java, on Saturday (16/5/2026), Prabowo said that the narrative about Indonesia experiencing an economic collapse is constantly repeated.

“I believe that there are always those who say that Indonesia will soon collapse and descend into chaos. But the people in villages don’t use dollars,” Prabowo said, as quoted on Sunday (17/6/2026).

Even though the Rupiah has reached its lowest level, he is optimistic that the situation in Indonesia remains safe, both in terms of food and energy, even though many other countries are panicking.

“Food is secure, energy is secure, many countries are panicking, but Indonesia is still doing okay,” he said.

Meanwhile, on a different occasion, Prabowo explained that Indonesia’s economy is being managed well by Finance Minister Purbaya Yudhi Sadewa. According to him, as long as the Finance Minister is smiling, people don’t need to worry.

“As long as Purbaya can smile, rest assured, there’s no need to worry. No matter how many thousands of Rupiah the dollar reaches, you in the villages don’t use dollars,” Prabowo said during the inauguration of 1,061 Red and White Village/Urban Cooperatives on Saturday (16/5/2026).

He also ensured that Indonesia’s fundamental conditions remain strong, even though the weakening of the Rupiah clearly has an impact on those who transact using dollars.