IDX Composite and Rupiah Both Plummet, Here is Purbaya's View!

The Indonesian Composite Stock Exchange (IHSG) and the Rupiah have both plummeted, according to Minister Purbaya Yudhi Sadewa, who assessed that the recent volatility in financial markets is merely a short-term sentiment. He believes that a strong economic foundation will restore the financial markets in the future.

“It is fine, we will fix it later. The economic foundation is currently good; this is just a matter of short-term sentiment,” Purbaya stated in Jakarta on Monday (18/05/2026).

The IHSG began today’s trading down 94.34 points or 1.40% to the 6,447.97 level. However, two minutes after the market opened, the IHSG dropped further by 2.59%, and the decline worsened 60 minutes later, with the index plunging 4.3% to the 6,428 level.

Meanwhile, the Rupiah even breached the level of Rp17,660/US$, as reported by Refinitiv, during today’s trading. This position reflects a depreciation of approximately 1.15%.

Sentiments emerging are dominated by foreign factors. Purbaya is currently focusing on maintaining the economy to ensure continued growth. “I am focused on guarding the economic foundation by ensuring that economic growth is not disrupted,” he explained.

In addition, Purbaya is also working towards stabilisation in the bond market. “We have entered, but only slightly; starting today, we will enter more significantly so that the bond market remains controlled,” said Purbaya.

“This will ensure that foreign investors holding bonds do not exit due to fears of capital losses from falling bond prices. This should be able to assist the movement of the Rupiah slightly,” he elaborated.