Government Confident Rupiah Will Not Exceed Rp17,500/US$ Until 2027

The Indonesian government is confident that the rupiah exchange rate included in the macro assumptions of the 2027 draft state budget (APBN) does not need to be adjusted, even though the rupiah’s value against the US dollar remains under pressure today.

As is known, in the 2027 Draft State Budget Bill, which is to be ratified by the House of Representatives (DPR) today as Law, the government has pegged the rupiah exchange rate at Rp17,500 per US dollar within the macro assumptions used as a reference for budget implementation.

“It will not be changed; we are optimistic,” said the Coordinating Minister for Economic Affairs, Airlangga Hartarto, near the State Palace, Jakarta, yesterday, as reported on Tuesday (29/09/2026).

According to the government, based on economic fundamentals, the movement of the rupiah exchange rate should continue to stabilise and strengthen against the US dollar. However, the government believes current movements are primarily caused by sentimental factors.

“If we look at it, because the macro conditions are quite good… there are always factors outside of fundamentals, sentimental factors exist, so we must balance them,” Airlust Airlangga said.

The rupiah exchange rate came under renewed pressure against the US dollar at the start of trading on Tuesday (29/09/2026). The ‘Garuda’ currency continued the sharp weakening that occurred the previous day.

Referring to Refinitiv data, the rupiah began today’s trading with a slight depreciation of 0.03% to the position of Rp17,970/US, movingclosertoitspsychologicallevelofRp18, 000/US.

This weakening follows the movement on Monday (28/09/2026), when the rupiah depreciated by 0.48% and ended trading at the level of Rp17,965/US$.

Meanwhile, the US Dollar Index (DXY), which measures the strength of the greenback against six major world currencies, was observed to have strengthened slightly by 0.01% to 101.209 at 09:00 WIB.

This strengthening continues the DXY increase of 0.22% at the close of the previous trading session.