Rupiah Falls, BI Strengthens Market Intervention

JAKARTA - Bank Indonesia (BI) stated that the pressure on the rupiah exchange rate is currently triggered by increasing global uncertainty, which also impacts the weakening of currencies in the region.

As is known, based on Bloomberg data, as of 12.08 WIB, the Garuda currency in the spot market weakened 0.68 percent to the level of Rp17,298 per US dollar.

BI Senior Deputy Governor Destry Damayanti explained that the movement of the rupiah was still in line with the regional trend, with a weakening of around 3.54 percent year-to-date (ytd).

In response to this condition, he added that BI continues to increase the intensity of interventions to maintain exchange rate stability.

In addition, Destry said the central bank also strengthened the interest rate structure on market-based monetary instruments to maintain the attractiveness of domestic assets, especially amid the ongoing impact of the conflict in the Middle East.

"The stabilization steps are carried out consistently through interventions in the offshore market (NDF), the domestic market (spot and DNDF), as well as the purchase of SBN in the secondary market," he said in a statement, Thursday, April 23.

Meanwhile, he added that the foreign exchange reserve position remained solid, recorded at US$148.2 billion at the end of March 2026.

Destry again emphasized that Bank Indonesia will continue to be present in the market and is ready to take the necessary steps consistently and measured to maintain the stability of the rupiah exchange rate.