Rupiah hits record low as Indonesian official expects brief pressure
Dradjad Hari Wibowo hopes the currency will recover within days and says exporters have so far absorbed exchange-rate pressures.
Indonesia’s rupiah fell to a record low of Rp18,250 per US dollar on 12 November 2026, as Deputy Coordinating Minister for Economic Affairs Dradjad Hari Wibowo said he expected pressure linked to domestic political developments to be short-lived.
Speaking in Jakarta, Dradjad said political developments commonly trigger financial-market fluctuations. He expected the pressure to pass unless those developments escalated into broader turmoil, citing the 1998 Asian crisis as a different situation. Asked how long the weakness might persist, he expressed hope that it would last only a few days.
Dradjad said no exporters had so far suffered major disruption from exchange-rate movements. Companies had allowed for currency risks and were managing the impact through their own risk-management measures, he said.
The effects differed according to each company’s business structure and import requirements, he added. Exporters could benefit because foreign-currency earnings were worth more in rupiah, while businesses reliant on imported materials or goods could face higher costs.
He also stressed the importance of educating investors and other stakeholders so that decisions were based on information and careful consideration rather than political or market rumours.
Separately, Dradjad said proposals concerning taxation of capital-market products and investors, including final and non-final tax arrangements, needed further discussion with the Finance Ministry. He did not specify the proposed measures or which products they would cover.
