Rupiah Breaches Rp 17,400, BI Optimises Interventions in Forex Market

Bank Indonesia (BI) has assured that it will optimise interventions in the financial markets to maintain the stability of the rupiah’s exchange rate. This response comes after the rupiah weakened on the opening of trading today, Tuesday (5/5/2026), breaching the Rp 17,400 per US dollar level. Head of BI’s Monetary and Asset Management Department, Erwin Gunawan Hutapea, stated that the institution will continue to be present in the market to ensure that market mechanisms operate properly, while keeping the rupiah’s exchange rate aligned with domestic economic fundamentals. “This step is taken consistently to maintain the rupiah’s exchange rate stability amid ongoing global pressures,” he told the media on Tuesday. BI noted that the rupiah’s exchange rate weakened by 3.65% in today’s trading. Nevertheless, the rupiah’s movement since the initial escalation of geopolitical tensions in the Middle East until now remains in line with the majority of other emerging market currencies. “Bank Indonesia continues to affirm its commitment to always be present in the market and take necessary steps consistently and measurably to maintain the rupiah’s exchange rate stability,” he stressed. For information, the rupiah’s spot market exchange rate was observed to weaken again at the opening of morning trading today. The Garuda currency depreciated by 0.04% to the level of Rp 17,400 per US dollar. Meanwhile, currency movements in the Asian region were recorded as varied in morning trading today. The Philippine peso became the currency with the deepest weakening after correcting by 0.21%. This was followed by the Malaysian ringgit, which fell 0.18%, and the Thai baht, which weakened by 0.1%. On the other hand, the South Korean won became the currency with the largest strengthening in Asia after rising 0.2%. Gains were also recorded for the Japanese yen and the Singapore dollar, each strengthening slightly by 0.02%.