Five Years of Jokowi: Rupiah Falls Almost 18 Percent

The Indonesian Rupiah has experienced a significant depreciation against the US dollar during the five years of President Joko Widodo's (Jokowi) administration. Global economic uncertainty and high demand for US dollars in the domestic market have pushed the Rupiah above Rp 14,000.

Based on Jakarta Interbank Spot Dollar Rate (JISDOR) data, the Rupiah exchange rate stood at Rp 14,172 per US dollar on October 17, 2019. This represents a 17.7 percent weakening compared to its position on October 20, 2014, the day Jokowi was inaugurated as the 7th president.

(Read Databoks: [The Worst Rupiah Weakening This Year?](https://databoks.katadata.co.id/datapublish/2019/05/16/pelemahan-rupiah-tahun-ini-yang-terburuk))

As shown in the graph, the Rupiah exchange rate weakened to nearly Rp 15,000 per US dollar in 2015. It even weakened to Rp 15,253 per US dollar on October 11, 2018, its worst level in five years. Concerns about the trade deficit and persistently high demand for US dollars further burdened the Rupiah's movement.

(Read Databoks: [The Sensitivity of the Rupiah Exchange Rate to the 2018 State Budget](https://databoks.katadata.co.id/datapublish/2018/07/11/inilah-sensitivitas-nilai-tukar-rupiah-terhadap-apbn-2018))