Finance Minister Purbaya on Rupiah Weakness: That's the Central Bank's Business...

JAKARTA, KOMPAS.com - Finance Minister Purbaya Yudhi Sadewa has expressed readiness to fulfil the House of Representatives (DPR) summons regarding the rupiah’s continuous weakening against the US dollar today.

He made this statement in response to DPR Chair Puan Maharani’s remarks, which indicated that the government and Bank Indonesia would be called to discuss economic developments and the rupiah’s exchange rate depreciation.

Nevertheless, Purbaya stressed that exchange rate stability is entirely under the central bank’s authority, not the Ministry of Finance.

“If it’s about the rupiah, that’s the central bank’s business, not the Ministry of Finance’s,” Purbaya said at the Ministry of Finance on Tuesday (12/5/2026).

However, the government is prepared to attend if requested to provide explanations.

“We don’t know yet; there’s no invitation. But I’m ready,” he said.

According to Purbaya, the Ministry of Finance’s position in facing the rupiah’s weakening is more passive because exchange rate policy is in Bank Indonesia’s hands.

He also affirmed that Bank Indonesia’s primary duty, as stipulated by law, is to maintain exchange rate and monetary stability.

“Because the central bank’s duty according to the law is just one: to maintain exchange rate stability. Nothing else,” Purbaya stated.

Based on Bloomberg data, the rupiah in the spot market closed down 115 points or 0.66 percent at Rp17,529 per US dollar today. This position marks the lowest closing level for the rupiah against the US dollar in history, an all-time low (ATL).

Meanwhile, Bank Indonesia’s Jisdor rate today stood at Rp17,514 per US dollar, weakening by 99 points from yesterday’s level of 17,415.

Previously, DPR Chair Puan Maharani urged the government and Bank Indonesia (BI) to immediately anticipate the rupiah’s exchange rate weakening, which nearly breached the Rp17,500 per US dollar level.

Puan warned that pressure on the rupiah should not lead to adverse impacts on the national economy.

Puan stated that the DPR would also soon discuss the Macro Economic Policy and Fiscal Policy Principles (KEM-PPKF) as part of preparing the 2027 State Budget.

“Of course, we will ask the government and relevant stakeholders to anticipate this,” Puan said during a press conference at the DPR Building on Tuesday (12/5/2026).