Bank Indonesia (BI) revealed that the pressure on the rupiah exchange rate today was influenced by the increasing global uncertainty which also pressured regional currencies.
The rupiah exchange rate against the United States dollar (USD) briefly touched the level of Rp17,300 per US dollar, before at 12.30 WIB it was indicated in the range of Rp17,293 per US dollar, referring to the global spot price.
"Bank Indonesia is always present in the market and will continue to take the necessary steps consistently and measuredly to maintain the stability of the rupiah exchange rate," said Senior Deputy Governor of BI Destry Damayanti as quoted by ANTARA, Thursday, April 23.
Destry noted that the movement of the rupiah was still in line with the region, with a weakening throughout the year (year to date/ytd) of 3.54 percent.
BI also continues to increase the intensity of interventions to maintain the stability of the rupiah exchange rate, as well as strengthening the interest rate structure of pro-market monetary instruments to maintain the attractiveness of domestic assets amid the continued impact of the Middle East conflict.
The stabilization steps are carried out consistently through interventions in the offshore market (Non-Deliverable Forward/NDF), the domestic market (spot and Domestic Non-Deliverable Forward/DNDF), as well as the purchase of Government Securities (SBN) in the secondary market.
Meanwhile, foreign exchange reserves remain strong at US$ 148.2 billion as of the end of March 2026.
The amount of foreign exchange reserves is equivalent to financing 6.0 months of imports or 5.8 months of imports and government external debt payments, and is above the international adequacy standard of around 3 months of imports.
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