Rupiah Briefly Breaches Rp17,000, Finance Minister Reveals Bank Indonesia's Role

Finance Minister Purbaya Yudhi Sadewa stated that the management of the rupiah’s exchange rate against the US dollar can still be conducted effectively. This is primarily supported by synergy between the government and Bank Indonesia.

“Bank Indonesia may monitor the exchange rate situation. Cooperation between the government and Bank Indonesia is necessary to maintain exchange rate stability. If we work together cohesively like this, it is not too difficult to manage global market volatility,” he told journalists at the Presidential Palace on Tuesday (10 March).

Purbaya added that the rupiah’s movement also tends to be dynamic. Although it briefly touched Rp17,000 per US dollar on Monday (9 March) afternoon, the rupiah has since strengthened to around Rp16,800 per US dollar.

The State Treasurer also stated that the foundation of the national economy remains sufficiently solid and strong. This is cited as one of the factors that facilitates exchange rate management.

“As long as our economic foundation is good, managing the rupiah is easier compared to when the economy is in disarray,” he concluded.