Parliament Wants BI to Aggressively Secure Rupiah and Supply Indonesia's Dollar Needs!

Jakarta, CNBC Indonesia - The Chair of Commission XI of the Indonesian House of Representatives (DPR RI), Mukhamad Misbakhun, is pushing Bank Indonesia (BI) to take a greater role in meeting the nation’s foreign exchange (forex) needs. He believes that the current approach is no longer adequate amid increasingly complex global dynamics.

According to him, BI should not only act as a monetary authority maintaining rupiah stability but also serve as a liquidity provider for forex.

“Given the situation that has changed so drastically like this, the way BI handles the issues is still the same in my opinion. The problems are becoming more complex, but it (Bank Indonesia) hasn’t changed,” Misbakhun said at an event in Bank Mega Tower, Tuesday (7/4/2026).

Misbakhun also questioned why BI does not take strategic steps to secure a large supply of forex from the outset. For example, by locking in Indonesia’s annual dollar needs through long-term contracts.

“Why doesn’t Bank Indonesia become a liquidity provider for forex? How much is our annual forex need? For instance, US$300 billion. Why don’t we chip in from the start with a very large contract amount, US$300 billion?” Misbakhun said.

He urged Bank Indonesia to pursue a more aggressive approach, such as through inter-country diplomacy channels.

According to Misbakhun, Bank Indonesia could directly involve the head of state to discuss Indonesia’s forex needs in a more concrete manner. “Why don’t we hold a high-level meeting, for example with President Trump, Mr Prabowo, to request that liquidity?” he said.

“I’ve never handled such issues. If the problems are resolved in the same old way, I’m sorry, sir,” he concluded.

As is known, the rupiah exchange rate weakened again against the US dollar on Tuesday’s trading (7/4/2026).

Citing Refinitiv data, the rupiah closed in the red with a 0.35% depreciation to the level of Rp17,090/US$. This position once again set a record as the weakest closing level ever for the Garuda currency.