DPR Lawmaker Hopes BI Keeps Rupiah at Moderate Level

January 22, 2026 | 08:35 am

TEMPO.CO, Jakarta - Chairperson of Commission XI of the Indonesian House of Representatives (DPR RI), Mukhamad Misbakhun, hopes that Bank Indonesia (BI) can maintain the rupiah exchange rate at a moderate level, reflecting the strengthening value and capacity of the Indonesian economy. "Of course, maintaining stability is not an easy task. But Indonesia is a country with a very stable economy," Misbakhun said, as quoted by Antara, Thursday, January 22, 2026.

He stated that Indonesia's economic growth is stable at around 4.8-5 percent year-on-year. Furthermore, inflation remains low.

From the external side, Indonesia's foreign exchange reserves remain strong, supported by a current account surplus and a positive trade balance. All balance of payments flows also show a healthy position, reflecting the external resilience of the Indonesian economy.

"What's worrying about Indonesia? Our fundamentals are strong. What's happening are sentiments that I believe should be strengthened in the market," Misbakhun said.

When asked about the impact of the change in BI Deputy Governor on exchange rate movements, the Golkar Party politician assessed that the recent weakening of the rupiah was unrelated to these dynamics. "In any case, the replacement figures for the Deputy Governor are under the authority of the central bank governor to propose to the President as Head of State," Misbakhun said.

Previously, the rupiah exchange rate on January 20, 2026, was recorded at Rp16,945 per US dollar, a 1.53 percent weakening (point to point/ptp) compared to the level at the end of December 2025. Meanwhile, the 2026 State Budget macroeconomic assumptions recorded the rupiah exchange rate at Rp16,500 per US dollar.

This weakening exchange rate was influenced by foreign capital outflows due to increasing uncertainty in global financial markets. Furthermore, increased demand for foreign exchange by domestic banks and corporations, in line with economic activity, also affected the rupiah's performance.

To maintain rupiah exchange rate stability, Bank Indonesia (BI) has taken intensive stabilization measures through intervention in the offshore non-delivery forward (NDF) market, domestic non-delivery forward (DNDF) market, and the spot market. Bank Indonesia predicts the rupiah will be stable with a strengthening trend, supported by attractive yields, low inflation, and continued positive economic growth prospects.

Indonesia's Balance of Payments (BOP) in the fourth quarter of 2025 is projected to remain strong, supported by a trade balance surplus of US$2.7 billion in November 2025. Meanwhile, Indonesia's foreign exchange reserves increased to US$156.5 billion at the end of December 2025.

Read: Bank Indonesia Governor Outlines Measures to Strengthen Rupiah

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