Indonesia central bank commits to more intense currency intervention as rupiah hits new record low
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The currency has also been under pressure as a result of concerns about the country’s fiscal sustainability
Published Thu, Apr 23, 2026 · 12:52 PM
[JAKARTA] Indonesia’s central bank is committed to intervene with increased intensity to defend the rupiah, its senior deputy governor Destry Damayanti said on Thursday (Apr 23), after the currency hit a fresh record low.
The rupiah’s drop against the US dollar was caused by rising global uncertainty, and the rate of depreciation remained in line with the currencies of regional peers, Destry said.
Bank Indonesia (BI) has repeatedly said that it was intervening to anchor the rupiah as investors moved away from risky assets due to the Middle East war. It has conducted interventions in offshore and onshore non-deliverable forward markets and the domestic spot FX market.
The currency has also been under pressure as a result of concerns about Indonesia’s fiscal sustainability, the independence of its central bank and transparency issues in its capital market.
The rupiah hit record lows multiple times, touching 17,315 a US dollar on Thursday.
“Bank Indonesia will continue to increase the intensity of intervention to maintain the stability of the rupiah exchange rate,” Destry said.
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She also underlined BI’s current monetary policy to increase rates offered on its short-term rupiah-denominated notes, known as SRBI, aimed at strengthening the country’s interest rate structure without changing the benchmark.
Such an interest rate structure is intended to attract foreign capital flows, Destry said. REUTERS
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