SBY: Heavier Economic Pressures Can Still Be Prevented

JAKARTA, KOMPAS.com - Indonesia’s sixth president, Susilo Bambang Yudhoyono (SBY), stated that he has been following developments and market dynamics while painting in Magelang, Central Java. He remarked that the dynamics of both the capital and money markets are indeed less encouraging. “However, I believe that heavier economic pressures can still be prevented. Of course, something must be done. We still have political and economic resources. Options and solutions are still available,” SBY said via his X account @SBYudhoyono on Tuesday (12/5/2026). “In crucial matters, unity. Mutual trust must be built together,” SBY added. “Let us give the government a chance and support. Insya Allah, Indonesia can do it,” he continued. Previously reported, the rupiah exchange rate in the spot market nearly touched the psychological level of Rp17,500 per US dollar at the opening of trading on Tuesday (12/5/2026). The rupiah’s weakening also occurred alongside pressures on the majority of Asian currencies against the US dollar. Based on Bloomberg data, the rupiah opened at Rp17,479 per US dollar, or weakening by 0.37 percent compared to the previous day’s close at Rp17,414 per US dollar. Meanwhile, the Composite Stock Price Index (IHSG) closed lower in trading today, Tuesday (12/5/2026). The IHSG fell 46.72 points or 0.68 percent to 6,858.90. Throughout the trading session, the IHSG moved in the range of 6,762.88 to 6,977.29, with an opening level at 6,946.85. Based on data from the Indonesia Stock Exchange (BEI), the stock trading volume reached 31.08 billion shares, with a trading frequency of 2.514 million times.