Rupiah Weakens to Rp 17,604, Government Says Indonesia's Debt Nearing Rp 10,000 Trillion Remains Safe

The rupiah’s exchange rate against the US dollar is expected to remain volatile but closed weaker in trading today. According to data from the Jakarta Interbank Spot Dollar Rate (Jisdor) of Bank Indonesia, the rupiah was at Rp 17,496 against the US dollar on Wednesday, 13 May 2026. This position strengthened by 18 points from the previous rate of Rp 17,514 on Tuesday, 12 May 2026. Meanwhile, in spot market trading on Friday, 15 May 2026, until 09:00 WIB, the rupiah was traded at Rp 17,604 per US dollar. That position weakened by 75 points or 0.43 percent from the previous level of Rp 17,529 per US dollar. Economic and money market observer Ibrahim Assuaibi stated that the government, through the Minister of Finance, claims the government’s debt position, which is nearing Rp 10,000 trillion or precisely Rp 9,920.42 trillion as of the end of March 2026, remains safe. In fact, the amount of government debt increased by Rp 282.52 trillion compared to the end of December 2025, which was Rp 9,637.90 trillion. Viewed from the debt-to-Gross Domestic Product (GDP) ratio, that amount is still at 40.75 percent or below the safe limit set by the State Finance Law of 60 percent of GDP. Indonesia’s debt ratio is still lower than other countries because the government manages debt carefully and measurably. According to him, Singapore’s debt is at 180 percent of GDP, while Malaysia’s is more than 60 percent of GDP. The Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance recorded that the government’s debt position reached Rp 9,920.42 trillion as of 31 March 2026. This figure rose 2.9 percent from the level of Rp 9,637.99 trillion in December 2025. The government’s debt position at the end of the first quarter of 2026 is equivalent to 40.75 percent of GDP. Of the total, the majority of debt still comes from the issuance of Government Securities (SBN), amounting to Rp 8,652.89 trillion or about 87.22 percent of total government debt. Meanwhile, even though Thursday-Friday are joint leave days, Bank Indonesia continues to intervene in the offshore market (Non-Deliverable Forward/NDF) to stabilise the rupiah’s exchange rate from high global pressures. Interventions in the offshore market are carried out by BI continuously in the US New York, Asia, and Europe markets.