House of Representatives Questions Bank Indonesia: 'All Instruments Used, Why is the Rupiah Weakening?'

The House of Representatives (DPR) RI summoned Bank Indonesia (BI) Governor Perry Warjio to a working meeting at the DPR Building in Senayan, Jakarta. Several BI officials, including the Deputy Governor, attended the meeting at the Commission XI Committee Room to discuss Bank Indonesia’s 2025 performance report.

The meeting comes as the rupiah exchange rate weakened further, hitting a low of Rp 17,680 per US dollar during Monday afternoon’s trading. Commission XI member Harris Turino raised concerns regarding the continuous depreciation of the rupiah despite the central bank deploying all available instruments. These measures include interventions in the financial market—which have reduced foreign exchange reserves to $146 billion—raising SRBI yields to 6.40 per cent, and Bank Indonesia’s purchase of government securities (SBN) amounting to Rp 332 trillion in 2025 plus an additional Rp 133 trillion this year, as well as increasing the US dollar purchase limit from $10,000 to $50,000 per person.

While acknowledging that the depreciation is largely driven by external factors weighing on various global currencies, Turino noted that domestic issues must also be addressed. “The possible cause is what you stated in the presentation; it is acknowledged that global pressure is very significant, but it must also be recognised that there are serious domestic problems,” he stated.