Don't Panic About Rp17,700 per US dollar, Parliament and Government Seek Solutions to Strengthen the Rupiah

Jakarta, CNBC Indonesia - Chairman of Commission XI of the Indonesian House of Representatives (DPR RI), Mukhamad Misbakhun, has urged the public not to panic at the pressures being faced by the rupiah against the United States dollar. Referring to President Prabowo Subianto’s remarks on the rupiah’s exchange rate, Misbakhun stressed that the government seeks to build a message of public calm amid global economic volatility. ‘What the President wants to convey is that the public should not panic excessively every time the exchange rate moves. It does not mean the Rupiah’s weakness is deemed unimportant or neglected,’ Misbakhun said in a written statement on Tuesday, 19 May 2026. According to Misbakhun, the context the President wants to set is to maintain public composure so as not to fall into a counterproductive panic for the economy. He likened exchange rate volatility to bad weather at sea. Waves must be watched and anticipated with proper navigation, but panic on board can magnify risks. ‘If there is a big wave, the captain must work seriously to steer the ship. But passengers should not panic as if the ship will sink,’ he added. DPR and BI-Government Seek Solutions to Strengthen the Rupiah. Misbakhun stressed that the DPR understands the sensitivity of the exchange rate’s impact on the public, particularly regarding energy prices, imported foodstuffs, and industrial needs. Therefore, Commission XI of the DPR continues to monitor developments in the rupiah’s exchange rate and is in intensive communication with the government, Bank Indonesia, and financial sector authorities to discuss actionable steps to bolster national economic stability. ‘Behind the scenes, discussions on rupiah stability and strengthening measures are being conducted intensively. The government and the DPR are not idle,’ Misbakhun said. He is optimistic that the coordinated steps taken by the government and economic authorities, implemented gradually, will begin to give positive sentiment to the market in the near term. ‘I am confident the market will start to see the direction of improvement. What matters now is policy consistency and public trust must not waver,’ he said. According to Refinitiv data, as of 09:13 WIB, the rupiah had weakened 0.34% to Rp17,700 per US.Thedeclinecontinuedaftertherupiahopenedweakeratthestartoftrading.Atthemorningsession′sopening, therupiahstoodatRp17, 650perUS, or down 0.06%. The pressure on the rupiah came even as the US dollar index (DXY) was seen to weaken. The DXY fell 0.11% to 99.094.