Jakarta, en.SERU.co.id – The Indonesian rupiah came under fresh pressure on Saturday (June 6, 2026), slipping to Rp18,049 against the US dollar. In response, the government and Bank Indonesia (BI) are intensifying coordination between fiscal and monetary policies to safeguard currency stability and restore market confidence.
BI Governor Perry Warjiyo emphasized that both institutions have agreed to align their efforts more closely.
“We are strengthening fiscal and monetary coordination. The focus right now is ensuring both policies move in the same direction and reinforce each other, while respecting their respective authorities in maintaining rupiah stability,” he said, as quoted by CNN Indonesia.
Warjiyo outlined two key strategies agreed upon by the government and BI:
1. Boosting Domestic Investment Appeal
The first priority is making local financial instruments more attractive to investors. Higher interest rates in developed countries have prompted foreign investors to pull funds from Indonesian assets, including stocks, government bonds (SBN), and BI’s Rupiah Securities (SRBI).
“This has added pressure on the rupiah. Fiscal and monetary authorities have agreed to improve yields so that capital inflows can return in greater volume and support currency stability,” Warjiyo explained.
2. Maintaining Banking Liquidity
The second measure focuses on ensuring adequate liquidity in the money market and banking sector. The government will continue placing state cash funds at Bank Indonesia, which in turn will offer more competitive remuneration.
“This way, monetary operations can continue to support rupiah stability while fiscal operations complement them,” Warjiyo added.
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Finance Minister: Policies Must Be in Sync
Finance Minister Purbaya Yudhi Sadewa said the government is committed to ensuring fiscal policy runs in harmony with BI’s monetary measures. He views this synchronization as crucial for accelerating economic growth.
“Going forward, we will focus on making sure fiscal policy is implemented effectively. We hope this will help our economy grow faster,” Purbaya said.
He added that closer coordination between the government and the central bank should deliver a stronger positive impact on the national economy and help rebuild market trust in the rupiah.
State Secretary Minister Prasetyo Hadi noted that authorities are closely monitoring developments, including the recent pressure on the rupiah.
“Meetings among economic authorities are happening intensively as part of the government’s efforts to strengthen the rupiah,” he said.
Prasetyo also pointed out that the currency’s movement is not driven solely by external factors. Domestic fundamentals, particularly Indonesia’s continued heavy reliance on imports, also play a significant role.
“Our economic self-reliance directly affects the strength of our currency. High import dependence naturally creates its own pressure on the rupiah,” he explained.
Analyst Warns Against Over-Reliance on Optimism
Financial observer Dr. Dedy Surahman warned that optimism alone is not enough. He stressed the need for comprehensive fiscal policies that directly support the real economy.
“Once the dollar breaks Rp18,000, production costs automatically rise. Profit margins for small businesses get squeezed,” Dedy said.
He urged the government to quickly deploy targeted fiscal instruments, such as well-directed subsidies, incentives for SMEs, and stronger cooperatives, to protect the real sector.
Without concrete measures, currency pressure could trigger higher prices and inflation, ultimately hurting consumer purchasing power.
“If buying power drops, who will buy local products? The challenge isn’t just maintaining production, but keeping the market alive,” he added.
Dedy concluded that the government’s success in navigating global pressures will depend on its ability to turn challenges into opportunities through well-calibrated policies focused on people’s welfare. (aan/mzm)
