Purbaya: Managing Global Market Volatility Is Not Difficult

FINANCE Minister Purbaya Yudhi Sadewa expressed confidence that Indonesia can overcome global market turbulence and rupiah exchange rate fluctuations. According to Purbaya, he is convinced Indonesia can endure as long as the government remains cohesive and the domestic economic foundation remains robust.

Purbaya stated that the government and Bank Indonesia need to work together in maintaining the stability of the rupiah exchange rate. The way to do this, he said, is for the government and Bank Indonesia to ensure the economy develops well and the money circulating in the system remains adequate.

If such cooperation is achieved, Purbaya said, the rupiah exchange rate can be maintained to remain stable. “If we stay coordinated like this, managing global market volatility is not too difficult,” Purbaya said at the Presidential Palace in Jakarta on Tuesday, 10 March 2026.

Purbaya stated that controlling the rupiah exchange rate is also not a difficult matter. “As long as our economic foundation is good, managing the rupiah is easier than when the economy is in disarray,” he said.

The rupiah exchange rate during Monday trading, 9 March 2026 fell 76 points or 0.45 per cent to 17,001 per US dollar. The weakening of the rupiah coincided with increased risk-aversion sentiment (risk-off) in global markets due to a surge in world oil prices breaching US$100 per barrel.

According to currency analyst from Doo Financial Futures, Lukman Leong, pressure on the rupiah was triggered by market concerns over the impact of the sharp rise in crude oil prices, which could potentially depress the global economy and increase inflation.

“The rupiah is estimated to weaken against the US dollar due to deteriorating risk-off sentiment triggered by crude oil prices surpassing US$100 per barrel, which is feared to have significant impact on the global economy and inflation,” said Lukman in Jakarta on Monday, 9 March 2026, as quoted by Antara.