Rupiah Pressure Not Yet Severe, State Budget Stabilises at Under Rp2 Trillion per Day

Jakarta, CNBC Indonesia - Finance Minister Purbaya Yudhi Sadewa has said that the pressure on the rupiah against the US dollar has not been too severe, so he is relying only on funds from the State Budget (APBN) to manage sentiment in the government securities market at around Rp2 trillion per day. If the pressure becomes very heavy, he said, the government will only then use a scheme that utilizes the Bond Stabilisation Fund (BSF), which also involves a public service body (BLU) under the Ministry of Finance. ‘This is only cash management. If the framework later, I will call the SMV (Special Mission Vehicle/BLU) and others to participate. But for now it’s not that serious yet; the situation is relatively decent,’ Purbaya said at his office in Jakarta on Tuesday (19 May 2026). Purbaya noted that of the total Rp2 trillion daily fund prepared to stabilise sentiment in the bond market, only Rp600 billion has so far been utilised for interventions in government securities (SBN) sold to global investors. He described the budget amount for backing those government bonds as small. ‘Yesterday I targeted Rp2 trillion, but only obtained Rp600 billion. It means the selling by others is actually limited. So we are ensuring bond prices remain under control,’ he said. The Rp600 billion figure, he added, is equivalent to the government SBN that has been sold to foreign investors. Purbaya said government intervention in the bond market has been in place since last Thursday through yesterday. ‘Since last Thursday a little. Yesterday a little. Now I’ll see again what it looks like,’ he added.