House Deputy Speaker Urges Citizens to Sell US Dollars: 'You'll Regret It When Rupiah Strengthens'

Wakil Ketua DPR RI Sufmi Dasco Ahmad has urged members of the public still holding US dollars to immediately exchange them for rupiah, in a bid to support the strengthening of the national currency which is currently showing a positive trend. Dasco revealed that the government has prepared several special strategies to ensure the stability and strengthening of the rupiah in the near future. He advised citizens not to delay exchanging their foreign currency before its value declines further. “Because if the rupiah strengthens next week, it would be a pity if you are still holding dollars. That is my appeal,” Dasco said at the Parliament Complex, Senayan, Jakarta, Thursday (11/6). According to Dasco, the recent strengthening of the rupiah and the Composite Stock Price Index (IHSG) reflects increasing market confidence in the government. He believes the strategies being implemented will have a significant impact in the short term. “In this week and the weeks ahead, there are special strategies that will be carried out by the government, which I have heard about and believe will cause the rupiah to strengthen,” he added. Based on market data on Thursday morning, the rupiah exchange rate edged up by three points, or 0.02 percent, to Rp17,941 per US dollar, compared to the previous close of Rp17,944 per US dollar. The rate had previously breached the psychological level of Rp18,000 per US dollar. Echoing the parliamentary optimism, Permata Bank Chief Economist Josua Pardede assessed that the rupiah’s strengthening was driven by easing market concerns over Indonesia’s fiscal outlook. Declining global oil prices and domestic policy adjustments were key factors. “Fears over Indonesia’s fiscal prospects have eased in line with weakening global oil prices, while the government’s decision to adjust Pertamax fuel prices has also helped reduce pressure on the fiscal balance,” Josua explained. This condition reinforces expectations that the fiscal deficit will be more manageable, providing positive sentiment for the domestic bond market and strengthening the rupiah’s position amid global economic dynamics.