Rupiah Nears 17,000 as Finance Minister Says Pressure Can Ease Fast
Was marked by a weaker rupiah near Rp17,000 per US dollar on January 20, 2026, while Minister Purbaya Yudhi Sadewa said he could fix it overnight.
JAKARTA — kurs usd hari ini drew fresh attention after the rupiah came close to Rp17,000 per US dollar on Tuesday, January 20, 2026, and Finance Minister Purbaya Yudhi Sadewa said he could reverse the pressure in a very short time. By the market close, the rupiah stood at Rp16.956 per US dollar, while Bank Indonesia’s Jisdor reference rate placed it at Rp16.981.
The move matters because the dollar’s strength is now feeding straight into Indonesia’s currency watch. Traders, businesses, and households tracking import costs have a clear signal: the rupiah is still under strain, and the next shift in sentiment could come fast.
Purbaya made the comment while speaking in the Ministry of Finance area in Central Jakarta. “Saya tahu betul alasannya kenapa (rupiah melemah) dan memperbaikinya dua hari, semalam dua malam selesai itu. Tapi saya bukan bank sentral,” he said on Tuesday, January 20, 2026.
He also pushed questions back to the central bank. “Anda tanya ke bank sentral, nanti saya dipancing-pancing masuk situ terus lagi. Nanti saya kelepasan, ribut lagi di luar. Kalau saya, tahu alasannya,” Purbaya said.
The minister’s remarks came as he said he was puzzled that rupiah weakness persisted even when capital inflows into Indonesia’s capital market were flowing strongly. He did not explain the cause in public, and said that falls under the central bank’s mandate, not the finance ministry’s role.
That split matters. The market listens to both institutions, but only Bank Indonesia has the direct mandate to stabilize the currency. So when the rupiah edges toward a psychologically important level like Rp17,000, the question is not just where the rate trades. It is who moves next.
Tempo later reported a different pressure point in the currency story, pointing to the rupiah’s sharp weakening during the long weekend on Friday, May 15, 2026. Based on Google data cited in the report, the rupiah reached 17,602 on Saturday morning, May 16, 2026.
In that report, PT Traze Andalan Futures Director Ibrahim Asuaibi said the rupiah’s weakness was influenced by escalating geopolitical tensions in the Middle East and the direction of interest rates set by the U.S. central bank, the Fed. He also said the Fed leadership had shifted from Jerome Powell to Kevin Warsh.
“Most likely, considering the significant inflation in America and the continuously rising gasoline prices, it has a significant impact on inflation. It is highly likely that in 2026, the U.S. central bank will not lower interest rates,” Ibrahim said on Friday, May 15, 2026.
He added that Bank Indonesia can only intervene in the international market during the long weekend period, which he said affects the rupiah overseas. Ibrahim also predicted the rupiah could weaken to 18,000 per US dollar by the end of May 2026, and if that level is reached, the exchange rate could weaken to 22,000 per US dollar.
He said that if the rupiah breaches 18,000 per US dollar or even 22,000 per US dollar, Bank Indonesia may raise the benchmark interest rate or BI Rate next June by 25 to 50 basis point. That puts the market on watch for the next policy move, with every dollar quote now carrying more weight than usual.