Finance Minister Purbaya Ready to Explain Rupiah Weakness to Parliament
Jakarta, CNBC Indonesia - Finance Minister Purbaya Yudhi Sadewa has stated that he is prepared to meet with the leadership of the House of Representatives (DPR) regarding the weakening rupiah. As is known, today the rupiah weakened to touch the level of Rp17,500 per US dollar. This is the lowest level in history.
This follows a statement from the Chair of the Indonesian House of Representatives, Puan Maharani, regarding the rupiah exchange rate weakening to Rp17,500 per US dollar. Puan stated that the DPR will request explanations from Bank Indonesia (BI) and the government to clarify this matter.
Although ready, Purbaya emphasised that the rupiah is the responsibility of the central bank. He also said he has not yet received an invitation from the DPR leadership.
“Not yet, but the rupiah is the central bank’s affair, not the Ministry of Finance’s. If summoned, yes, we are ready,” said Purbaya at the Ministry of Finance on Tuesday (12/5/2026).
“I don’t know yet, there’s no invitation. But I’m ready. As for me, I’m passive in that regard; it’s just the central bank’s affair to explain why,” he elaborated.
Purbaya admitted he will begin assisting Bank Indonesia in controlling the rupiah exchange rate pressure. “We will start helping tomorrow,” said Purbaya this morning.
He emphasised that his efforts to help exchange rate stability involve utilising intervention schemes in the securities market or bond market, through the bond stability fund or Bond Stabilization Fund (BSF).
“Perhaps by entering the bond market, that’s the BSF, but not the entire fund yet. We’ll activate it in the instruments we have here first, starting tomorrow,” he explained.
Nevertheless, Purbaya expressed full confidence in BI in maintaining exchange rate stability, even though the trend continues to weaken at present.
“The central bank’s task is just one, to maintain exchange rate stability, and we entrust that to the experts there, at the Central Bank,” said Purbaya.