TEMPO.CO, Jakarta - Bank Indonesia (BI) Governor Perry Warjiyo hurried into the Presidential Palace in Jakarta on Tuesday afternoon, May 5, 2026. The rupiah had just plunged to a record low of 17,425 against the United States dollar at the close of spot trading, after opening weaker at 17,420 earlier that morning. Tempo observed at the palace that afternoon that President Prabowo Subianto had summoned Perry along with other members of the Financial System Stability Committee.
Friderica Widyasari Dewi, Chair of the Financial Services Authority's (OJK) Board of Commissioners, arrived first, shortly before markets closed at 3:50pm. She was followed by Anggito Abimanyu, Chair of the Indonesia Deposit Insurance Corporation's (LPS) Board of Commissioners, and then Perry. Finance Minister Purbaya Yudhi Sadewa arrived afterward. But the closed-door meeting did not begin until dusk approached. For roughly an hour and a half, the monetary and fiscal officials briefed the President and discussed the weakening rupiah.
After the meeting, Perry outlined seven measures that would be deployed to rescue the rupiah, all of which, he said, had been reported to the President. The first was to strengthen intervention in foreign-exchange markets, both onshore and offshore. "Our foreign-exchange reserves are more than sufficient to stabilize the rupiah," he said.
The second measure focused on boosting capital inflows and strengthening
fiscal-monetary coordination. The central bank planned to increase inflows through Bank Indonesia Rupiah Securities (SRBI) to offset capital outflows from the stock and government bond markets.
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