US Dollar Breaks Through Rp 17,400, BI Issues Statement and Takes These Steps

Jakarta, CNBC Indonesia - The rupiah exchange rate against the US dollar came under increasing pressure in trading today, Tuesday (5/5/2026), reaching the level of Rp 17,400/US$. In response to the situation, Bank Indonesia (BI) stated that it is taking specific measures to dampen the pressure, such as various measured interventions. "Bank Indonesia will continue to be present in the market to ensure that the market mechanism runs well in order to maintain the stability of the rupiah exchange rate in accordance with its fundamental value," said the Head of the Monetary and Securities Assets Management Department of Bank Indonesia, Erwin G. Hutapea, in a written statement. According to him, the rupiah's movement since the beginning of the conflict in the Middle East until now has still been in line with the majority of other emerging market currencies. The Philippine peso weakened by 6.58%, the Thai baht by 5.04%, the Indian rupee by 4.32%, as well as the Chilean peso (-4.24%), the Indonesian rupiah (-3.65%), and the Korean won (-2.29%). "Bank Indonesia will continue to optimise interventions in the foreign exchange market through Non-Deliverable Forward (NDF) transactions in the offshore market, spot transactions and Domestic Non-Deliverable Forward (DNDF) in the domestic market, as well as purchases of government securities in the secondary market," Erwin said. He emphasised that various rupiah exchange rate safeguarding measures are being carried out consistently to maintain rupiah exchange rate stability amid ongoing global pressures. "Bank Indonesia continues to affirm its commitment to always be present in the market and take necessary steps consistently and in a measured manner to maintain the stability of the rupiah exchange rate," he explained. As is known, the rupiah came under even greater pressure against the US dollar on Tuesday (5/5/2026) trading. The pressure on the Garuda currency deepened after it opened weaker at the start of trading. Citing Refinitiv data, at 09:07 WIB, the rupiah was observed weakening by 0.22% to the level of Rp 17,403/US$. That position shows a deeper weakening compared to the morning trading open at Rp 17,380/US.Withthatmovement, therupiahofficiallybrokethroughthepsychologicallevelofRp17, 400/US, which also marks the latest all-time intraday weakest level.