DPR Commission XI Urges Bank Indonesia to Stabilise US Dollar at Rp16,000 Level

The Chairman of Commission XI of the Indonesian House of Representatives (DPR), M. Misbakhun, has requested that Bank Indonesia (BI) be capable of containing the depreciation of the rupiah against the US dollar. Specifically, BI has been asked to bring the rupiah back to the level of Rp16,000 per US dollar.

This was stated by Misbakhun during a working meeting with BI Governor Perry Warjiyo and officials at the DPR/MPR Building, Jakarta, on Monday (18/5/2026). “Political agreement will serve as the basis for legitimacy for you to act in such a manner. However, the political decision for an average of 16,500 must also be respected. From January 2026 until now, we have not seen 16,500. Therefore, throughout the latter half of the semester, the rate must remain flat at 16,000 so that the average can reach 16,500,” he stated.

Misbakhun also highlighted the significant operational budget revenue from the Foreign Exchange Asset Management (HPAV) post, which reached Rp66.65 trillion by the end of the fourth quarter of 2026. It is noted that HPAV revenue is derived from interest or coupons on SSB, as well as interest from deposits and current accounts. Misbakhun noted that growth from foreign exchange asset management reached 212.25%, amounting to Rp66.65 trillion. This massive growth raises questions as to whether the central bank is intentionally allowing the currency to weaken to increase its revenue.

“What does this mean? At a time when the rupiah is under pressure, BI’s revenue is at its highest. This is a question for all of us: is the rupiah being allowed to weaken so that BI’s revenue increases?” said Misdeakhun.

This surge in HPAV revenue has apparently not been accompanied by the achievement of targets for strengthening the rupiah. According to DPR records, since 2022, the assumptions and realised figures for the rupiah exchange rate have consistently missed their targets. Furthermore, Misbakhun lamented that the 2025 macro assumption of Rp16,000 was not met, with the actual realisation reaching Rp16,865 per US dollar. Consequently, the state must bear a heavy burden due to the impact of these missed exchange rate assumptions.

This condition has led to an increase in the state’s burden regarding energy subsidies, including Fuel (BBM) and LPG. In response to the proposal, Perry Warjiyo addressed the matter by considering the current situation. “We believe that from June to August, the whole year agreement will be between 16,200 and 16,800. Give us time,” replied Perry.