Sri Mulyani Claims Rupiah Exchange Rate Is Still Better Than Korea To Turkey

Minister of Finance Sri Mulyani (Photo: Aris Nurjani/VOI)

Minister of Finance Sri Mulyani said that until December 31, 2024, the rupiah exchange rate was at the level of Rp. 16,095 per United States (US) dollar or weakened by 4.34 percent point to point compared to the end of 2023.

"If we compare it with other countries' currencies, such as Korea with Won, Mexico with Peso, Brazil with Real, Japan with Japanese Yen, and Turkey with Lyra, then the development of the Rupiah despite the depreciation of 4.34 points to points is still better," he said at the press conference on the results of the 2025 KSSK Periodic Meeting, Friday, January 24.

Sri Mulyani said that since early 2025, strengthening the strong US dollar currency index caused the rupiah exchange rate until January 23, 2025, to weaken by 1.14 percent point to point.

"For the beginning of 2025, the pressure on the dollar currency as I said earlier in XY with the strengthening of the dollar currency index remains strong. The Rupiah exchange rate until January 23 was recorded to have weakened 1.14 percent point to point," he said.

Sri Mulyani explained that although the condition of the rupiah exchange rate weakened in early 2025, it was better than the end of 2024. This is in line with the trend of currency movement in other regional areas.

"Our rupiah exchange rate strengthens against the currency of the developed country group outside the US dollar and our rupiah exchange rate is relatively stable against the currency of the developing countries," he explained.

According to Sri Mulyani, the stability of the rupiah exchange rate is supported by policy measures taken by the government and Bank Indonesia.

"It is also supported by foreign capital inflows that are still continuing, from the results of domestic financial instruments which are considered quite attractive and also the prospects for the Indonesian economy which are also resilient and good," he said.