Rupiah Plummets to Rp17,600, MP Urges Bank Indonesia Governor Perry Warjiyo to Resign
Jakarta, VIVA – Primus Yustisio, a member of Commission XI of the Indonesian House of Representatives (DPR RI) from the PAN Faction, has urged Bank Indonesia (BI) Governor Perry Warjiyo to resign following the plummeting value of the rupiah.
In spot market trading on Monday, 18 May 2026, as of 10:26 WIB, the rupiah was traded at Rp17,676 per US dollar. This position represents a decline of 79 points, or 0.45 per cent, from its previous level of Rp17,597 per US dollar.
The demand was made by Primus during a working meeting between Commission XI of the DPR RI and Bank Indonesia at the Parliament Complex in Senayan, Central Jakarta, on Monday, 18 May 2026.
Primus described the current situation as an anomaly, noting that while economic growth has reached 5.61 per cent, the rupiah exchange rate has collapsed.
“Why is our rupiah so weak? When compared to the Dollar, it is always measured against the Dollar. But the fact is, and ironically, this is against all currencies. We are weakening against the Singapore Dollar, the Australian Dollar, the Ringgit, the Riyal, and even the Hong Kong Dollar and the Euro,” Primus stated during the meeting.
“I remember, Sir, in early 2006, the Euro was at 7,000 per Euro. Now it is almost 19,000, almost 20,000. We must look at this reality, Sir. We cannot remain idle,” he added.
Primus further asserted that Bank Indonesia has lost trust and credibility following the continuous depreciation of the rupiah.
“Bank Indonesia has currently lost trust; Bank Indonesia has set aside its credibility. And as the leader of Bank Indonesia, as the key figure, you must be a gentleman. You must be brave enough to confront this. What is happening? Why is this occurring?” he expressed.
On that occasion, Primus also requested that Perry resign from his position as Governor of Bank Indonesia. He argued that resigning from a position is not an act of insult.
“Respected Mr. Perry, sometimes, taking a gentlemanly action is not an insult, Sir. I will give you an example: perhaps now is the time for you to resign. There is no harm in it. Whatever you decide next is up to you, of course. But it is not an insult. You would be more respected, as in Korea or Japan, if you cannot perform your duties well. There is no shame in that,” he concluded.