Government Urges Public to Remain Calm Amid Rupiah Depreciation
Govt Urges Public to Remain Calm Amid Rupiah Depreciation
23 Apr 2026 14:15 WIB
Voice of Indonesia
Key Points
The Indonesian Coordinating Minister for Economic Affairs, Airlangga Hartarto, said global market dynamics were the main factor behind the rupiah’s recent weakening.
He urged the public to remain calm while monitoring Bank Indonesia’s efforts to stabilize the currency.
RRI.CO.ID, Jakarta – The Indonesian rupiah opened 0.73 percent, or 126 points, weaker against the US dollar at IDR 17,307 per USD on Thursday, April 23, 2026. Coordinating Minister for Economic Affairs, Airlangga Hartarto, said global dynamics were the primary cause of the weakening.
“So, we will just monitor the situation,” he said at the Ministry of Investment and Downstream Industries/Indonesian Investment Coordinating Board (BKPM) in Jakarta, as quoted by Antara.
Minister Airlangga added that exchange rate stability is the responsibility of Bank Indonesia (BI). “We will just monitor the situation, because we cannot react to this every single day,” he said. He noted that the government continues to review developments to anticipate further volatility, given that the assumed exchange rate in the 2026 state budget is IDR 16,500 per USD.
From an external perspective, Indonesia Commodity & Derivatives Exchange (ICDX) Research and Development expert Muhammad Amru Syifa said the conflict between the United States and Iran is driving up energy prices and strengthening the US dollar. “This situation is increasing demand for the US dollar as a safe-haven asset,” he said.
Domestically, BI has maintained its benchmark interest rate at 4.75 percent to preserve rupiah stability. To ease market pressure, BI also raised the transaction limit for Domestic Non-Deliverable Forwards (DNDF) and swaps from USD 5 million to USD 10 million per transaction.
The central bank said the measure is intended to reduce pressure in the foreign exchange spot market while reinforcing rupiah stabilization.
“In the future, the direction of the rupiah will depend heavily on geopolitical developments, the Federal Reserve’s policy stance, and the effectiveness of the domestic policy mix in maintaining financial market stability,” said Amru. ***
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