Bank Indonesia boosts synergy as rupiah dips to Rp17,900 per USD

Jakarta (ANTARA) - Bank Indonesia (BI) reaffirmed its determination to build stronger synergy with all stakeholders, including the government, to protect the rupiah as its exchange rate weakened further to around Rp17,900 per US dollar.

Head of BI’s Communication Department Ramdan Denny Prakoso said in a written statement here on Wednesday that stabilizing the exchange rate requires synergy among all parties with shared concern.

“Bank Indonesia continues to strengthen coordination with the government, the Financial Services Authority, banks, the business community, and market actors to ensure proper market mechanisms and strengthen the external resilience of the national economy,” he noted.

Prakoso assured the public that the central bank remains committed to closely monitoring dynamics in global and domestic financial markets.

He added that BI would take all necessary steps in a consistent and measurable manner to bring the rupiah back to preferred levels and bolster the economy’s resilience against external pressures.

“Bank Indonesia will maintain its market presence by optimizing all existing policy instruments in a bid to ensure that market mechanisms function well and to keep foreign exchange liquidity sufficient to support financial market stability,” he affirmed.

Starting June 2, 2026, he continued, BI imposed a cash threshold for foreign exchange purchases against the rupiah without underlying assets at US$25,000 per trader per month as part of the exchange rate stabilization push.

In addition, the central bank is amplifying its campaign to reduce reliance on the US dollar and mitigate exchange rate volatility risks through bilateral cooperation centered on the use of local currencies in international transactions.

To date, Indonesia has forged such partnerships with China, Japan, Malaysia, Thailand, South Korea, and the United Arab Emirates.