DPR Claims Rupiah Reaching Rp18,000 Driven by Sentiment Rather Than Economic Conditions
Jakarta, VIVA – The Deputy Chairman of Commission XI of the Indonesian House of Representatives (DPR RI), Mohamad Hekal, has addressed the condition of the rupiah exchange rate, which has breached the psychological threshold of Rp18,000 per US dollar. He stated that no specific deadline has been set for Bank Indonesia (BI) to bring the rupiah exchange rate to a particular level. According to him, the primary focus at present is to maintain the stability of the rupiah’s movement through the synergy of fiscal and monetary policies.
This was conveyed by Hekal to journalists following a press conference at the Nusantara III Building, DPR RI, Senayan, Jakarta, on Saturday (6/6/2026). The meeting was attended by the Deputy Chairman of the DPR RI for Politics and Security, Sufmi Dasco Ahmad, State Secretary Prasetyo Hadi, Finance Minister Purbaya Yudhi Sadewa, and the Governor of Bank Indonesia, Perry Warjiyo.
Responding to the Governor of BI’s forecast regarding the potential strengthening of the rupiah between July and August 2026, Hekal noted that such projections should not be understood as targets that must be achieved within a specific timeframe. “I believe there is no such specific deadline. That is more of a political push. What we want to see is stability in the movement of the rupiah exchange rate,” said Hema.
According to Hekal, the weakening of the rupiah to the level of Rp18,000 per US dollar is more heavily triggered by market sentiment rather than Indonesia’s fundamental economic conditions. He assessed that several indicators actually show an improving trend in the national economy. “The Rp18,000 figure is considered a psychological number by many parties. However, in our view, this is more driven by sentiment. The evidence is that after the announcement of the first-quarter State Budget (APBN), the economic condition from month to month has actually been improving,” explained the Gerindra Party politician.
He stated that as long as the national economic foundation remains strong, the main challenges arise more from external factors. Therefore, solid coordination between fiscal and monetary authorities is a crucial factor in maintaining market confidence and increasing the attractiveness of the rupiah. “We hope that our two financial sector controllers, namely the fiscal and monetary sectors, can achieve even better coordination. Today, we want to hear from both regarding whether there are any unsynchronised elements and how policy synchronisation can be maintained within their respective corridors moving forward,” he said.