{"id":492656,"date":"2026-05-19T16:40:21","date_gmt":"2026-05-19T16:40:21","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/492656\/"},"modified":"2026-05-19T16:40:21","modified_gmt":"2026-05-19T16:40:21","slug":"indonesias-rupiah-sinks-to-record-low-as-prabowo-shrugs-off-rout-fears","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/492656\/","title":{"rendered":"Indonesia\u2019s rupiah sinks to record low as Prabowo shrugs off rout fears"},"content":{"rendered":"

Indonesian<\/a> officials have moved to reassure markets that the country\u2019s economic fundamentals remain sound after the rupiah sank to a record low, but President Prabowo Subianto<\/a>\u2019s attempts to play down the currency\u2019s slide has attracted criticism from economists and social media users alike.<\/p>\n

The rupiah fell to 17,720 per US dollar on Tuesday, cementing its status as one of Asia\u2019s worst-performing currencies this year.<\/p>\n

Indonesia\u2019s main stock index, the Jakarta Composite Index (JCI), tumbled 3.46 per cent on the same day, deepening a rout partly triggered by the removal of several Indonesian companies from major global indices including MSCI and FTSE Russell.<\/p>\n

Villagers don\u2019t use dollars<\/p><\/blockquote>\n

Indonesian President Prabowo Subianto<\/p>\n

Speaking to villagers in East Java on Saturday, Prabowo pushed back against what he called exaggerated warnings about the country\u2019s economy, arguing that ordinary rural Indonesians were not directly exposed to US dollar transactions.<\/p>\n

\u201cThere are people who are always saying \u2026 Indonesia will collapse any minute, it will be chaos. The rupiah is like this, the dollar is like this. Villagers don\u2019t use dollars,\u201d he said. \u201cThe ones who are having a headache are those who like to travel abroad.\u201d<\/p>\n

Prabowo declared that Indonesia\u2019s \u201ceconomy and fundamentals are strong\u201d, adding there was nothing to worry about \u201cas long as [Finance Minister] Purbaya Yudhi Sadewa is smiling\u201d.<\/p>\n

\"IndonesianIndonesian Finance Minister Purbaya Yudhi Sadewa at the Bank Indonesia building in Jakarta on May 7. Photo: AFP<\/p>\n

On Monday, Purbaya sought to reassure markets that Indonesia would not suffer a repeat of the fallout from the 1997 Asian financial crisis despite its weakening currency.<\/p>\n","protected":false},"excerpt":{"rendered":"Indonesian officials have moved to reassure markets that the country\u2019s economic fundamentals remain sound after the rupiah sank…\n","protected":false},"author":2,"featured_media":492657,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[174],"tags":[214879,214877,79,214880,214875,179,18,214882,19,7088,17,214878,66901,29879,50371,51030,384,214881,214876],"class_list":["post-492656","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-amran-sulaiman","tag-aspirasi-indonesia-research-institute","tag-business","tag-centre-of-reform-on-economics-indonesia","tag-east-java","tag-economy","tag-eire","tag-financial-services-authority","tag-ie","tag-indonesia","tag-ireland","tag-jakarta-composite-index","tag-msci","tag-prabowo-subianto","tag-purbaya-yudhi-sadewa","tag-rupiah","tag-united-states","tag-yanuar-rizky","tag-yusuf-rendy-manilet"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116602237040700457","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/492656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=492656"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/492656\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/492657"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=492656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=492656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=492656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}