The efforts include strengthening cooperation on currency swaps between countries and diversifying state financing instruments, according to Coordinating Minister for Economic Affairs Airlangga Hartarto.
"We have prepared with Bank Indonesia on the currency swaps with China, Japan, Korea, and other countries," Airlangga said here on Tuesday.
The government is also preparing a financing strategy through the issuance of securities in various currencies.
According to him, these steps aim to strengthen liquidity and maintain the stability of the rupiah exchange rate.
"Going forward, we will also continue to prepare the composition related to the level of debt we can handle, the securities we can issue, such as those from China or the (Japanese) yen, to maintain pressure on the US dollar," he said.
Throughout April to early May 2026, the rupiah has remained at 17,000 per US$. The rupiah continues to experience significant pressure, hitting record lows of 17,405 per US$ as of Tuesday.
Airlangga claimed that currency weakening against the US dollar was not only occurring in Indonesia but also in a number of countries.
The increase in demand for dollars, he continued, was also influenced by seasonal factors such as the need for the Hajj pilgrimage and dividend payments in the second quarter of 2026.
In addition, external pressure was also triggered by rising geopolitical tensions in the Middle East, which drove the US dollar to strengthen and increased demand for safe-haven assets in the global market.
By continuously monitoring global developments, the government will adjust policies and mitigate potential external risks, Airlangga affirmed.
Policy coordination between the government and Bank Indonesia is expected to continue strengthening national economic stability amidst global turmoil, he concluded.
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Translator: Aria Ananda, Yashinta Difa
Editor: Azis Kurmala
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