April 24, 2026 | 10:30 pm
TEMPO.CO, Jakarta - Indonesia's Finance Minister Purbaya Yudhi Sadewa said the weakness of the rupiah is influenced by both global and domestic factors, noting that from the domestic side, “noise” in the market is shaping currency expectations.
Over the weekend, the rupiah remained under pressure above Rp17,200 per US dollar. On Friday, April 24, 2026, it closed at Rp17,228 per US dollar.
Speaking at a briefing at the Ministry of Finance’s Financial Education and Training Agency (BPPK) office on Friday, Purbaya said there are two main factors behind the weakening. “The rupiah is influenced by global conditions and expectations. The noise mentioned domestically shapes those expectations,” he said.
He previously explained that such “noise” includes narratives suggesting the Indonesian economy is weakening and fiscal management is under pressure, which he said has created negative sentiment across markets.
The finance minister stressed that these expectations need to be managed, but said stabilizing the rupiah is not the responsibility of the Finance Ministry, but of Bank Indonesia. “That’s not my area. I can’t intervene there,” he said.
Bank Indonesia Senior Deputy Governor Destry Damayanti said the rupiah’s movement remains in line with regional peers, with a year-to-date depreciation of 3.54 percent. “The pressure on the rupiah is influenced by rising global uncertainty, which also affects regional currencies,” she said in an official statement on Thursday, April 23, 2026.
Amid the pressure, Bank Indonesia continues to intensify interventions to maintain exchange rate stability. The central bank is also strengthening pro-market monetary instruments, including interest rate structures, to maintain the attractiveness of domestic assets amid spillovers from the Middle East conflict.
Stabilization efforts are carried out through interventions in offshore non-deliverable forward (NDF) markets, domestic spot and DNDF markets, as well as purchases of government bonds in the secondary market.
Destry also said foreign exchange reserves remain strong at US$148.2 billion as of the end of March 2026, providing adequate buffers against external shocks.
“Bank Indonesia is always present in the market and will continue to take necessary and measured steps to maintain rupiah stability,” Destry said.
Read: Purbaya Denies Rumors State Funds Left at Rp120 Trillion
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