Prabowo Targets Rupiah Exchange Rate Between Rp 16,800-17,500 per US Dollar by 2027

President Prabowo Subianto has set a target to maintain the rupiah exchange rate against the US dollar within the range of Rp 16,800 to Rp 17,500 per US dollar for the year 2027. This was stated by Prabowo during his speech regarding the Macroeconomic Framework (KEM) and the Main Points of Fiscal Policy (PPKF) for the 2027 Draft State Budget (RAPBN) at the House of Representatives (DPR) Plenary Session on Wednesday.

Prabowo emphasised that the government must implement both fiscal and monetary strategies to ensure the stability of the rupiah exchange rate. Additionally, he aims to keep inflation within the range of 1.5 to 3.5 per cent by 2027.

Furthermore, the President targets a reduction in the poverty rate from the previous 6.5-7.0 per cent to 6.0-6.5 per cent. The open unemployment rate is also targeted to decrease to a range of 4.30-4.87 per cent, down from the previous target of 4.44-4.96 per cent.

“Our deficit in 2027, the state budget deficit, will be maintained within the range of 1.80 to a maximum of 2.40 per cent of GDP, and we will continue to strive to suppress and minimise this deficit,” added Prabowo.

Currently, the rupiah opened at the level of Rp 17,738 per US dollar, weakening by 0.18 per cent compared to the previous day’s close of Rp 17,706 per US dollar. With this depreciation, the rupiah recorded the deepest correction among Asian currencies in this morning’s trading.