Dollar Hits 18,000 Rupiah: Business Owners Consider Accelerating Layoffs

Amid the rupiah’s continued depreciation against the US dollar, reaching Rp 18,000/US$, business actors have halted new job openings for efficiency. Some are even accelerating layoff plans as they struggle to maintain cash flow.

This was conveyed by Benny Soetrisno, Chairman of the Indonesian Exporters Association (GPEI), on Thursday (4/6/2026).

"The stop on job vacancies has actually been in place for a long time. With the current situation, the decision is to accelerate the layoff process; if there are employees who are no longer needed, the layoffs are sped up. What business owners are protecting is cash flow," he said.

Beyond maintaining cash flow and efficiency, business owners see no clarity on when the pressure on the rupiah will end or when it will strengthen again—no one knows.

He cited the Textile and Textile Products (TPT) sector as an example of a heavily pressured area, specifically the garment industry where raw materials are imported using dollars but the finished product market is in rupiah domestically.

However, for export-focused sectors, the rupiah’s depreciation is actually beneficial. Business owners can still import raw materials using the Yuan from China.

"When the dollar is high, pity those who import raw materials using dollars but sell in rupiah; they are sure to lose money," he said.

Benny also stressed that the current pressure on the rupiah cannot be compared to the conditions in 1998. "Of course, it is different from 1998; previously our foreign exchange reserves were small, now they are above US$ 100 billion," he stated.