BI Urges Calm, Warns Against Panic Dollar Buying

RRI.CO.ID, Jakarta - The ongoing depreciation of the rupiah against the US dollar has triggered panic among segments of the public, prompting them to buy dollars out of concern over rising costs if the US currency continues to strengthen.

“Because they are buying US dollars with rupiah. When the market panics, just like during the COVID‑19 pandemic, people rush to buy necessities,” said Ruth A. Cussoy Intama, Director of Bank Indonesia’s (BI) Financial Market Deepening Department, during a BI event in Makassar, South Sulawesi, on Friday, May 22, 2026.

Ruth noted that many people are purchasing dollars now even though they will only need them in three months. To address this, BI has tightened monthly foreign exchange purchase limits per person.

“So if you won’t need the dollars for another three months, please don’t buy them now. Wait until then. BI has also forecast that the rupiah will strengthen again in July-August,” she said.

Under such conditions, Ruth emphasized that BI must be present in the market to urge the public to remain calm and avoid panic buying. “By doing so, we’ve been able to reduce expectations, demand, and so on,” she added.

She warned that continued rupiah depreciation would affect all segments of society. At the close of trading on Friday, the rupiah once again touched IDR 17,000 per USD. (Gusti Panji)