TEMPO.CO, Jakarta - Deputy Speaker of the House of Representatives (DPR) for Politics and Security, Sufmi Dasco Ahmad, has urged the public to unload their US dollars as the exchange rate hovered around Rp17,941 per dollar on Thursday morning, June 11, 2026. The rupiah previously plummeted to a historic low of Rp18,201 per US dollar on Monday, June 8, 2026.
"For those of you currently holding dollars hoping for profit, it is better to unload them," said the Gerindra Party Executive Chair at the parliamentary complex in Jakarta on Thursday. "Because if the rupiah rebounds next week, you will regret holding onto those dollars," he added.
Dasco expressed confidence that public trust in the government is growing, which he expects will positively influence and reinforce the rupiah's value.
On the other hand, he claimed to have received assurances from executive officials that the government will implement specific strategies starting this week to stabilize the currency.
"Starting this week and moving forward, the government will deploy specific strategies that I have already heard and believe will strengthen the rupiah," he said.
During a working meeting with House Commission XI, Finance Minister Purbaya Yudhi Sadewa noted that the rupiah's performance leading into early June 2026 continued to face severe headwinds from adverse global sentiment, a risk-off climate in financial markets, and seasonal pressures from outbound travel and domestic corporate transactions.
Presented data showed that the rupiah stood at Rp18,039 per US dollar as of June 8, 2026. According to Purbaya, this recent depreciation was primarily driven by external macroeconomic shocks and widespread market aversion to risk.
Nevertheless, Purbaya argued that the current exchange rate likely reflects a temporary market overshooting, leaving the currency undervalued. He pointed out that domestic economic fundamentals remain solid, anchored by robust foreign exchange reserves, a manageable current account deficit, well-contained inflation, and a pro-stability stance from Bank Indonesia.
The government remains optimistic that closer synergy and policy coordination between fiscal, monetary, and financial regulators, alongside improved export proceeds repatriation (DHE) and broader financial market deepening, will shore up domestic dollar liquidity and restore investor confidence. Thus, Purbaya noted, the rupiah is projected to gradually stabilize and gain ground during the second half of 2026.
In contrast, Ibrahim Assuaibi, Director of PT Traze Andalan Futures, warned that the rupiah could slide further to Rp19,000 per US dollar by the end of the month. He argued that the currency's historic downward trend will persist if geopolitical volatility continues and the US Federal Reserve keeps interest rates elevated or hikes them further.
Ibrahim estimated that the US dollar index is currently hovering between a support level of 99.00 and a resistance level of 101.00. "This means there is a possibility that the dollar index will sharply strengthen again," Ibrahim explained in a voice message on Sunday, June 7, 2026.
The strengthening of the dollar index, Ibrahim said, will significantly drive up oil prices, weaken the rupiah, and lower the value of gold and precious metals. The drop in precious metal prices, Ibrahim added, has encouraged the Indonesian public to buy US dollars instead. This condition weakens precious metals and further strengthens the US dollar.
Mutia Yuantisya and Alfitria Nefi Pratiwi contributed to this article
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