Finance Minister Purbaya's Comments on Domestic Sentiments Causing Rupiah Weakness
Finance Minister Purbaya Yudhi Sadewa has confirmed that the rupiah’s weakening is caused by global and domestic conditions. From the domestic side, he stated that the cause is noise that forms expectations towards the domestic currency.
Over this weekend, the rupiah weakened and remained above the 17,200 level per US dollar. On Friday’s trading, 24 April 2026, the rupiah closed at 17,228 per US dollar.
During a media briefing at the Financial Education and Training Agency (BPPK) of the Ministry of Finance on Friday, 24 April 2026, Purbaya mentioned two factors causing the rupiah’s sluggishness. “The rupiah is influenced by global conditions and expectations. The noise mentioned domestically is what shapes expectations,” he said.
Previously, Purbaya had also explained about the discordant voices or noise depicting that the Indonesian economy is in distress and there are problems in fiscal management. Such news, he said, creates negative sentiments everywhere.
The State Treasurer stated that such expectations need to be controlled. However, according to him, rupiah stabilisation is not the Ministry of Finance’s task but Bank Indonesia’s. “But that’s not my area. So I can’t get into that,” he said.
BI Senior Deputy Governor Destry Damayanti stated that the rupiah’s movement is still in line with the region, with a year-to-date weakening of 3.54 per cent. “Pressure on the rupiah today is influenced by increasing global uncertainty that also pressures regional currencies,” she said through an official statement on Thursday, 23 April 2026.
Amid this pressure, according to Destry, Bank Indonesia continues to increase the intensity of interventions to maintain exchange rate stability. The central bank is also strengthening the interest rate structure of pro-market monetary instruments, aiming to maintain the attractiveness of domestic assets amid the ongoing impact of the Middle East conflict.
Stabilisation measures are carried out consistently through interventions in the offshore market (NDF), domestic market (spot and DNDF), as well as purchases of government bonds in the secondary market. Destry also assured that foreign exchange reserves remain strong at US$148.2 billion at the end of March 2026. Reserves of this size are considered strong enough to withstand pressures.
“Bank Indonesia is always present in the market and will continue to take necessary steps consistently and measuredly to maintain rupiah exchange rate stability,” said Destry.