Purbaya Still Smiling Despite Rupiah Slump, Confident Indonesia's Economy Remains Sound

Jakarta — Finance Minister Purbaya Yudhi Sadewa displayed continued optimism, smiling as he responded to the rupiah’s depreciation, which had touched Rp 17,600 per United States dollar. Against the backdrop of pressure on the domestic currency and various global sentiments, Purbaya said Indonesia’s economy was still in good shape.

‘If I smile, the economy is good, the rupiah is good. That’s why I keep smiling,’ he told reporters at the Directorate General of Taxes (DJP) in Jakarta on Monday, 18 May 2026.

Regarding the rupiah’s pressure on the US dollar and its potential impact on energy subsidies as well as macro assumptions in the APBN, Purbaya stressed that the government had carried out thorough calculations. ‘When we calculate the rupiah now, it’s not like the previous APBN assumptions. So, roughly speaking, that’s how it is,’ he said.

However, Purbaya declined to reveal the detailed figures used by the government for fear of triggering market speculation about the government’s exchange-rate target. ‘But we’ve calculated it, so there’s no need to worry,’ he said.

Purbaya also assured that the government had prepared anticipatory steps so that the public would remain calm in the face of rupiah pressure.