Indonesia Monitors Rupiah as It Weakens Past 17,300, Says Airlangga

April 23, 2026 | 02:23 pm

TEMPO.CO, Jakarta - Coordinating Minister for Economic Affairs Airlangga Hartarto has stated that the government remains vigilant in monitoring the Rupiah’s movement as it continues to depreciate against the US dollar. "We will simply monitor it, because we cannot be reactive every day," Airlangga remarked at the BKPM office in Jakarta on Thursday, April 23, 2026.

The Rupiah touched the Rp17,200 per US dollar mark on Thursday morning, April 23, 2026, showing continued weakness compared to Wednesday’s close of Rp17,180 per US dollar.

Airlangga noted that Indonesia is not alone in facing currency depreciation. The Golkar politician emphasized that the Rupiah’s decline is being driven by global dynamics. "Various currencies across the region are also experiencing volatility," he pointed out.

The Rupiah’s current valuation, having breached the Rp17,000 threshold, has now surpassed the Rp16,500 per US dollar limit set in the State Budget (APBN). "We will continue to monitor the situation, and it is the responsibility of Bank Indonesia to maintain it," Airlangga said.

According to Trading Economics data, the Rupiah was recorded at 17,295 per US dollar as of 09:50. The currency briefly plummeted to a low of 17,307 per US dollar earlier that morning.

Ibrahim Assuabi, Director of PT Traze Andalan Futures, observed that the Rupiah’s surge past 17,300 has exceeded initial forecasts. "It is highly probable that by the end of April next week, it will reach 17,400 per US dollar," he stated in an official announcement on Thursday, April 23, 2026.

Ibrahim explained that the current situation is heavily influenced by external factors, including ongoing conflicts in the Middle East. Recent talks between the U.S. and Iran, facilitated by Pakistan, failed to reach an agreement as Iran declined to participate. "This is because the United States violated weapons regulations by seizing an Iranian tanker passing through the Strait of Hormuz," he noted.

Ilona Estherina contributed to this article

Read: Rupiah Crumbles Against US Dollar as Iran War Rages

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