Rupiah Nears 18,000 per Dollar, Authorities Boost Coordination

RRI.CO.ID, Jakarta - The weakening rupiah, nearing IDR 18,000 per US dollar, has prompted the government and financial authorities to strengthen coordination to maintain stability in the national financial market.

Finance Minister Purbaya Yudhi Sadewa said the Financial System Stability Committee (KSSK) is prepared to enhance coordination if necessary to support the rupiah. However, he stressed that exchange rate management and intervention remain within the jurisdiction of Bank Indonesia, the central bank.

“It is the central bank’s jurisdiction to maintain the exchange rate. Let them act first. But if we see that coordination can be improved to strengthen the exchange rate, we will do so,” Minister Purbaya said at the Parliament Complex in Jakarta on Wednesday, June 3, 2026, as quoted by Antara.

On Wednesday afternoon, the rupiah closed down 127.5 points, or 0.71 percent, at IDR 17,966 per US dollar. According to Minister Purbaya, market sentiment and speculation have weighed more heavily on the currency than Indonesia’s fundamental economic conditions.

He emphasized that the government will remain focused on sustaining growth and strengthening economic fundamentals to ensure long-term exchange rate stability.

Meanwhile, Bank Indonesia continues to reinforce synergy with the government and other stakeholders.

Starting June 2, 2026, BI imposed a monthly limit of USD 25,000 per participant on foreign exchange purchases without underlying assets. The central bank is also encouraging the use of local currencies through the local currency transaction (LCT) scheme to reduce dependence on the US dollar and mitigate exchange rate volatility. ***