Purbaya Asserts Rupiah Weakness Not a Reflection of Indonesia's Poor Economic Condition

Finance Minister Purbaya Yudhi Sadewa has asserted that the plunge in the rupiah’s exchange rate against the US dollar does not reflect a worsening national economy. “For me, this (rupiah weakening) is not a sign of deterioration or triggered by a worsening domestic economy,” Purbaya said during a media briefing at the BPPK Building in South Jakarta on Friday, 24 April 2026. He even claimed that Indonesia’s economy is currently in better shape compared to neighbouring countries. “Compared to other countries, we are still strong. Even compared to Malaysia, Thailand, and others, we are still strong,” he stated. Purbaya explained that fluctuations in a currency’s exchange rate cannot be generalised. In this context, he noted that the Thai and Malaysian currencies have relatively strengthened against the US dollar since the beginning of the year. “It’s just that the exchange rate movements are different, right? You see, Malaysia has strengthened, Thailand has strengthened against the dollar, relatively from the beginning of the year until now, but it will be like this,” Purbaya said. However, Purbaya admitted he was reluctant to address the rupiah’s exchange rate stability further, as he believes it falls under the purview of Bank Indonesia. “Try asking the central bank why it’s like that. Maybe I’m not the expert here,” he said. “But what is clear is that our economic foundation has not changed and will even tend to grow faster because we are increasingly serious about fixing the obstacles in the economy,” he added.