Purbaya: Rupiah Depreciation Better Than Malaysia and Thailand

Jakarta — Finance Minister Purbaya Yudhi Sadewa has disclosed that the weakening of the rupiah’s exchange rate amid current global conflict remains relatively better compared to peer countries.

The rupiah’s resilience is underpinned by Indonesia’s maintained fiscal and monetary conditions. According to Purbaya, sentiment towards the rupiah stems from dollar strengthening that has occurred since regional tensions.

“The rupiah has depreciated by 0.3%, which is far better than our neighbouring countries Malaysia and Thailand,” Purbaya stated during the March 2026 edition of the State Budget Press Conference on Wednesday (11 March 2026).

The rupiah opened stronger against the US dollar on Wednesday’s trading session (11 March 2026).

According to Refinitiv data, the rupiah opened trading in positive territory, strengthening 0.21% to the level of Rp16,820 per US dollar. Previously, at the close of trading on Tuesday (10 March 2026), the rupiah had strengthened significantly by 0.47% to the level of Rp16,855 per US dollar.

Meanwhile, the US dollar index (DXY), which measures the strength of the US dollar against six major global currencies, was recorded at 09:00 WIB as strengthening slightly by 0.01% to the level of 98.836.

On this occasion, Purbaya also complained that he was frequently criticised by people on TikTok. “People ask what Minister Purbaya does if he can’t fix the rupiah,” he recounted.

He further stated that the public must understand that the current rupiah weakening is still better compared to other countries in the world. He explained that Indonesia’s position remains good because it is supported by sound fiscal and monetary policies as well as a strong economic foundation.