Intensive Intervention Conducted, BI Chief Confident Rupiah Will Stabilise

Jakarta – Bank Indonesia (BI) has reported that worsening global conditions have impacted currency valuations in emerging markets, including Indonesia. The rupiah has weakened by Rp16,985 per US dollar, or 1.9% as of 16 March 2026, according to BI data.

Bank Indonesia Governor Perry Warjiyo disclosed that the central bank has intensified interventions in the Non-Deliverable Forward (NDF) market, spot market, and Domestic Non-Deliverable Forward (DNDF) market. BI remains confident that the rupiah will stabilise going forward.

“BI is confident that the rupiah will stabilise in the future,” Perry stated in the central bank’s March 2026 Board of Directors Meeting results released on Tuesday, 17 March 2026.

Based on Refinitiv data, the rupiah-to-US dollar exchange rate opened in positive territory today, strengthening by 0.12% to Rp16,965/US$ during today’s trading session. This recovery reversed the previous trading session, when the rupiah closed weaker by 0.30% at Rp16,985/US$. Nevertheless, Indonesian banks were observed continuing to sell US dollars at the Rp17,000 level. Some banks were even selling at rates exceeding Rp17,265 per US dollar.