Indonesia: Darmin calls for calm as rupiah hits IDR14,000/USD

  • The rupiah stayed above IDR13,900 against the US dollar in May 18. On 8 May 18, the rupiah stood at IDR14,036 against the US dollar at the Jakarta Interbank Spot Dollar Rate (JISDOR), compared to the IDR13,956 on 7 May 18.
  • The rupiah in the spot market was equally weak. The rupiah exchange rate on 7 May 18 afternoon closed at IDR14,001 per US dollar, after having opened at IDR13,949 per US dollar. On 8 May 18, the exchange rate opened at IDR14,004 per US dollar.
  • Coordinating Economic Minister Darmin Nasution said the rupiah exchange rate would continue to change, as would the rates of other currencies.
  • He said that although the exchange rate hit IDR14,000 per US dollar, it would not always stay at this figure.
  • “Yes, today [the exchange rate] penetrated IDR14,000. But it will not stay at this figure for long,” Darmin said in his office on 7 May 18 evening as reported by
  • Darmin ensured that Bank Indonesia would take measures to ensure the stability of the rupiah exchange rate. “BI will wait for the monthly RDG [board of governors meeting] before coming up with any policies,” he said.

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