Bank indonesia Says Ready to Stabilize Rupiah, Which is Near 27-Year Low

March 26, 2025 | 07:46 pm

TEMPO.CO, Jakarta - The Indonesian central bank, Bank Indonesia, said it is ready to intervene to stabilize the rupiah, which on Wednesday stayed close to its lowest levels since 1998 even as officials said market sentiment was positive and economic fundamentals were resilient.

There was positive sentiment in domestic stocks, bonds and the foreign exchange market, said Fitra Jusdiman, Bank Indonesia's director of monetary and securities asset management.

He would not comment on whether the central bank had intervened on Wednesday, but said BI always monitored the market and was ready to step in to support the rupiah.

On Tuesday, the rupiah weakened past 16,600 per dollar to hit its lowest levels since the Asian financial crisis in 1998.

The rupiah was trading at 16,585 per dollar as of 0738 GMT on Wednesday, LSEG data showed.

The economy remains fundamentally resilient, Solikin M. Juhro, BI's head of macroprudential policy, told reporters, citing economic growth of around 5%, low inflation and manageable foreign loans.

"Fundamentally, we remain well," he said, adding Indonesia is "totally different" and more resilient now than it was in 1998 during the Asian Financial Crisis.

Chief economic minister Airlangga Hartarto separately told reporters the country's economic fundamentals remain strong despite the rupiah's drop.

REUTERS

Editor’s Choice: Indonesia Intervenes as Rupiah Falls to Asian Crisis Lows 

Click here to get the latest news updates from Tempo on Google News

Apple Says iPhone 16 Series to Be Available in Indonesia From April 11

6 menit lalu

Indonesia Steps Up Handing Confiscated Palm Plantations to State Company

1 jam lalu

2026 World Cup Qualifiers: Kevin Diks Eyes Indonesia Win Over China

2 jam lalu

Prabowo Holds Talks with French Foreign Minister on Macron's Visit

2 jam lalu

Iran Hails Indonesia's Unwavering Support for Palestine

4 jam lalu

Indonesian Rupiah Nears Record Low as Fiscal Worries Rattle Investors

5 jam lalu

Bahrain Coach: Indonesia Match Deserved a Draw

8 jam lalu

Prabowo Grateful for Indonesia's Victory Against Bahrain, Opening Chance to Reach 2026 World Cup

13 jam lalu

Indonesia Beats Bahrain 1-0 in 2026 World Cup Qualifiers; Ole Romeny Scores Lone Goal

20 jam lalu

Rupiah Weakens, Analyst: Trump's Tariffs and Danantara Weigh on Investors

23 jam lalu