March 10, 2026 | 11:02 pm
TEMPO.CO, Jakarta - Finance Minister Purbaya Yudhi Sadewa expressed confidence that Indonesia can overcome global market turmoil and rupiah exchange rate fluctuations, so long as the government remains united and the country's economic foundation remains strong.
Purbaya called on the government to work closely with Bank Indonesia to maintain the stability of the rupiah exchange rate and ensure that there is sufficient cash circulating in the system.
If such cooperation is established, Purbaya said, rupiah would be kept stable. "If we are united like this, it is not too difficult to control global market turmoil," said Purbaya at the Presidential Palace in Jakarta on Tuesday, March 10, 2026.
"As long as our economic foundation remains strong, controlling the rupiah is easier compared to when the economy is in chaos," he said.
The rupiah exchange rate on Monday, March 9, 2026, dropped by 76 points or 0.45 percent to 17,001 per US dollar. The weakening of the rupiah is in line with the increasing risk-off sentiment in the global market due to the surge in world oil prices, which have surpassed US$100 per barrel.
According to currency analyst from Doo Financial Futures, Lukman Leong, the pressure on the rupiah is triggered by market concerns regarding the sharp increase in crude oil prices, which have the potential to press on the global economy and drive up the inflation rate.
"The rupiah is expected to weaken against the US dollar due to the deteriorating risk-off sentiment triggered by the increase in crude oil prices exceeding US$100 per barrel, which is feared to have a significant impact on the global economy and inflation," said Lukman in Jakarta on Monday, March 9, 2026, as quoted from Antara.
Read: Indonesia to Review Free Meal Budget as Oil Prices Hit $100
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