Rupiah Breaches Rp 17,300, Airlangga Says Pressure Driven by Global Turbulence

JAKARTA - The rupiah exchange rate weakened and breached the Rp 17,300 per US dollar level during trading on Thursday (23/4/2026). The pressure is driven by ongoing global volatility.

Coordinating Minister for the Economy Airlangga Hartarto stated that the rupiah’s depreciation is inseparable from external conditions. The government is continuously monitoring developments and preparing anticipatory measures.

“Yes, it’s due to the volatility, global volatility as well (as the main influence). So, we’re just monitoring it,” Airlangga said when met at the Ministry of Investment and Downstreaming/Badan Koordinasi Penanaman Modal (BKPM) in Jakarta on Thursday (23/4/2026).

Senior Deputy Governor of Bank Indonesia Destry Damayanti assessed that the pressure on the rupiah is in line with the weakening of currencies in the region. Global uncertainty is exerting pressure on many currencies.

“The rupiah’s movement is still in line with the region, with a year-to-date weakening of 3.54 percent,” she said in a written statement.

Bank Indonesia is continuously increasing the intensity of interventions in the financial markets. This step is taken to maintain exchange rate stability.

Interventions are conducted in the overseas non-deliverable forward market, spot transactions, and domestic non-deliverable forward in the domestic market.

The rupiah exchange rate in the spot market reached Rp 17,310 per US dollar as of 09.35 WIB. This position weakened by 0.74 percent compared to the previous close at Rp 17,181 per US dollar.

This weakening places the rupiah as the currency with the deepest decline in Asia in the morning session. The Philippine peso fell by 0.57 percent and is one level above the rupiah.

The Hong Kong dollar was the only currency in the region that strengthened, rising by 0.02 percent.