Fiscal and Monetary Harmonization Crucial to Stabilizing Rupiah: House

RRI.CO.ID, Jakarta - The Speaker of the House of Representatives’ Budget Committee, Said Abdullah, urged the Committee for Financial System Stability (CFSS) to strengthen coordination between fiscal and monetary policies. He stressed that this step is crucial to maintaining the rupiah’s stability, which is currently under pressure.

Said noted that the rupiah’s depreciation has reached the psychological threshold of IDR 18,000 per USD. “Furthermore, our financial markets, particularly the stock exchange, are currently seeing the Jakarta Composite Index (JCI) down by approximately 3.04 percent,” Said stated at the Parliament Complex in Senayan, Jakarta, on Thursday, June 4, 2026.

According to him, the pressure on the rupiah is not solely driven by national economic fundamentals. He emphasized that market perception is a critical factor that warrants the government’s attention.

“The issue here is not merely about economic fundamentals, because from the perspective of the rupiah’s value, it is already undervalued. Therefore, I sincerely hope that from the outset there has been synergy between fiscal and monetary policy within the CFSS forum,” explained Said, a politician from the Indonesian Democratic Party of Struggle (PDI-P).

Said also urged the government to foster optimism among business actors and investors. He noted that such efforts must be carried out through mitigation measures against the ongoing weakening of the rupiah.

He added that legal certainty and policy governance are the primary concerns of investors. The government, he said, must also maintain transparency and accountability in its policies while remaining focused on the President’s priority programs.

“If the CFSS does not immediately address and strengthen measures against the persistent weakening of the rupiah, market perceptions will continue to deteriorate. This is what we must collectively safeguard,” he said. (Gusti Panji)