RRI.CO.ID, Jakarta – As of May 5, the rupiah exchange rate has fallen, breaking through the 17,400 rupiah per US dollar level. Coordinating Minister for Economic Affairs, Airlangga Hartarto, stated that the government, together with Bank Indonesia, has prepared a number of mitigation steps.

He also gives an official statement regarding the rupiah exchange rate breaking the 17,400 per US dollar level. He made the statement at a press conference at his office in Jakarta on Tuesday, May 5, 2026.

The minister explained that the situation is a global phenomenon which is also experienced by several other countries. Additionally, there is significant demand for US dollars at certain times, which puts pressure on the rupiah.

“Regarding the rupiah, many countries are indeed experiencing a weakening against the US dollar, and typically during the Hajj season, demand for dollars increases. So, we will also monitor that demand, and usually in the second quarter there are also dividend payments,” he said.

To ease this pressure, the government has prepared mitigation steps together with Bank Indonesia. One concrete step taken is to enter into currency swap agreements with several major Asian countries to ensure that financial reserves remain secure.

Airlangga stated, “We have made preparations with Bank Indonesia regarding currency swaps with China, as well as with various other countries, including Japan, South Korea, and others.”

In addition to currency swaps, the government plans to shift the type of foreign loans by using currencies other than the dollar, such as the yuan or the yen. This step is expected to bolster the rupiah’s position and reduce the market’s dependence on the US dollar.