Finance Minister Purbaya Acknowledges Social Media Criticism Over Rupiah Weakness, Explains Position

JAKARTA — Indonesia’s Finance Minister Purbaya Yudhi Sadewa acknowledged being the target of internet users’ criticism on social media regarding the weakening of the rupiah’s exchange rate. However, he assessed that pressure on the rupiah remained moderate compared to other currencies in the region.

Purbaya stated that global volatility, including heightened geopolitical tensions in the Middle East, had indeed placed pressure on financial markets across various countries. Nonetheless, he continued, the rupiah’s weakening was considered relatively limited.

“If you look at the rupiah’s exchange rate against the US dollar since the conflict, the depreciation is around 0.3 per cent. It is far better than several countries around us,” Purbaya said during a press conference on the March 2026 edition of the National Budget (APBN) in Jakarta on Wednesday (11 March 2026).

He cited the example of the Malaysian ringgit weakening by approximately 0.5 per cent, whilst the Thai baht fell as much as 1.6 per cent during the same period. According to Purbaya, this comparison demonstrated that the rupiah remained sufficiently stable amid global pressures.

Purbaya did not deny that this situation had not escaped public scrutiny on social media. He even admitted to being “roasted” by internet users on TikTok for allegedly failing to maintain the rupiah’s exchange rate.

“On TikTok, people curse me. They say, ‘Mr Purbaya, Finance Minister, what exactly do you do? Look at the rupiah,’” he said, mimicking the comment from an internet user directed at him.