The Jakarta Interbank Spot Dollar Rate (JISDOR) from Bank Indonesia (BI) shows that the exchange rate of the US dollar against the rupiah was Rp17,514 at the close of trading on Tuesday (12/5/2026).
This exchange rate weakened the rupiah by 0.56% compared to the previous day's close. This level is the worst in history.
According to Katadata, Finance Minister, Purbaya Yudhi Sadewa, is preparing intervention measures in the bond market through the Bond Stabilization Fund (BSF) to respond to the plummeting rupiah exchange rate.
Purbaya said that the government will start entering the bond market to prevent the yield on government debt from rising too high. This step is taken to help Bank Indonesia maintain exchange rate stability.
"Maybe we'll start helping by entering the bond market tomorrow," said Purbaya at the Finance Ministry office in Central Jakarta on Tuesday (12/5/2026).
According to him, a too-high increase in bond yields could potentially trigger the exit of foreign investors from the domestic financial market due to capital losses.
If there is a large-scale capital outflow, the pressure on the rupiah could further increase.
"We intervene in the bond market to prevent the yield from rising too high. If the yield rises too high, it means that foreigners who hold bonds here will suffer capital losses and will exit," he said.
However, he emphasized that the main responsibility for maintaining exchange rate stability remains with Bank Indonesia as the monetary authority.
Purbaya confirmed that the rupiah's weakening is still within the limits that can be handled by the State Budget (APBN). He revealed that the government has actually used a higher exchange rate assumption than the official APBN assumption in a number of internal calculations.
(Read Katadata by Ade Rosman: Rupiah Breaks Rp 17,500, Purbaya Activates Bond Stabilization Fund)