Rupiah Weakens, Prabowo: As Long as Purbaya Smiles, There's No Need to Worry
President Prabowo Subianto responded calmly to the weakening of the Rupiah against the US dollar. Prabowo stated that he is not worried about Indonesia’s economic condition as long as Finance Minister Purbaya Yudhi Sadewa can still smile.
The Chairman of the Gerindra Party said that Purbaya is currently a very popular figure. “Purbaya is very popular now. As long as Purbaya can smile, there’s no need for you to worry. Even if the dollar reaches thousands, you in the villages don’t use dollars,” Prabowo said during a speech in Tingul Village, Nganjuk, East Java, on Saturday, May 16, 2026, as broadcast by the Presidential Secretariat.
Prabowo mentioned that the rising US dollar will affect people who like to travel abroad. He jokingly mentioned a few names, such as the Chairwoman of Commission IV of the DPR RI, Siti Hediati, also known as Titiek Soeharto, who is also Prabowo’s ex-wife, and the Minister of Marine Affairs and Fisheries, Sakti Wahyu Trenggono.
“Those who are concerned are those who like to travel abroad. Who is this? Mbak Titiek is worried. She’s a minister but also a businesswoman, let’s see. Trenggono? Is he here? He doesn’t travel abroad anymore, oh, you go to the islands,” Prabowo said.
Prabowo also mentioned the Head of BPI, Danantara Rosan Perkasa Roeslani, and the Chairman of the Chamber of Commerce and Industry, Anindya Bakrie. “Rosan? But no, he’s already bald. Just sit down. Anin, you can be worried, you’re a businesswoman, you’re the chairman of Kadin,” Prabowo said.
The former Commander of the Army’s Strategic Reserve Command asked the public not to be too worried about the Rupiah’s movement against the dollar. The former defense minister said that Indonesia’s condition is still safe compared to other countries, especially in the food and energy sectors.
He also responded calmly to the situation because people in villages do not use foreign currency in their daily lives. Therefore, he is not worried about people’s warnings about the weakening Rupiah. “The Rupiah is like this, the dollar is like that. People in the villages don’t use dollars, right?”
On Friday morning, May 15, 2026, the Rupiah had weakened to a level of Rp 17,600 per US dollar. This is the highest level since the Asian monetary crisis in 1997-1998.
Director of PT Traze Andalan Futures, Ibrahim Assuaibi, predicted that the exchange rate of the Rupiah would break the level of Rp 18,000 per US dollar in May 2026. “If it breaks Rp 18,000 this May, there is a good chance that the Rupiah will break the level of Rp 22,000,” Ibrahim said in a statement on Friday, May 15, 2026.
He said that the last two days, namely Thursday, May 14, and Friday, May 15, were a test for Indonesia. This is because, during the holiday, geopolitical tensions in the Middle East continued to escalate.
Meanwhile, Ibrahim said, Bank Indonesia can only intervene in the international market during the holiday period. Therefore, the impact of external pressure on the Rupiah is greater. However, he said that the situation could be different when trading resumes on Monday, May 18, 2026.
From an external perspective, Ibrahim said that the strengthening of the US dollar is influenced by the direction of the central bank’s policy, or The Federal Reserve (The Fed). The Fed is expected not to lower interest rates throughout 2026 due to a significant increase in US inflation.
Meanwhile, from an internal perspective, Ibrahim highlighted the large pressure on the State Budget (APBN). This is because the weakening Rupiah has an impact on the increase in oil subsidy spending.
Anastasya Lavenia Yudi contributed to the writing of this article.
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