The Indonesian Rupiah (IDR) closed at Rp 16,860 per US dollar on Wednesday, April 9, 2025, after experiencing pressure earlier in the day, briefly nearing Rp 17,000 and hitting Rp 16,955 at 10:40 AM WIB. This stabilization occurred as Bank Indonesia (BI) intervened in the market.
According to Fitra Jusdiman, Director of Monetary Management and Securities Assets at BI, the Rupiah's movement was relatively controlled, closing stable compared to the previous day's close of Rp 16,860. He attributed the earlier pressure on the Rupiah to negative market sentiment stemming from unfavorable external conditions, including trade tensions between the US and China. The US was preparing to impose tariffs on Chinese goods, escalating the trade war between the world's two largest economies.
Jusdiman noted that the Rupiah's performance against the US dollar was comparatively better than several regional currencies, including the Indian Rupee, Chinese Renminbi, Vietnamese Dong, and Malaysian Ringgit, all of which experienced pressure. BI has committed to ensuring the stability of the Rupiah through interventions in domestic (spot, DNDF, and SBN) and offshore (NDF) markets.