Jakarta. Bank Indonesia has pledged to intensify efforts to stabilize the rupiah after the currency breached Rp 18,000 per US dollar on Friday, as MSCI’s proposed downgrade of Indonesia’s market classification triggered selling pressure on domestic financial assets.

Rupiah opened at Rp 18,038 per dollar, down 100 points or 0.56%, in spot trading on Friday morning, according to Bloomberg data at 9:05 a.m. Jakarta time.

The depreciation followed MSCI’s announcement that it had begun consultations on a proposal to reclassify Indonesia from an emerging market to a standalone market, raising concerns over potential foreign investment outflows.

Bank Indonesia’s Head of Monetary and Securities Asset Management Department, Erwin Gunawan Hutapea, said the rupiah’s movements remained broadly in line with regional currencies, with the currency weakening by a limited 0.28% quarter-to-date.

“Foreign exchange reserves also remained adequate at $146.3 billion at the end of September 2026,” Erwin said in an official statement obtained on Friday.

He said the central bank would remain active in the foreign exchange market to maintain the rupiah’s stability in line with economic fundamentals and ensure orderly market mechanisms.

“Interventions continue consistently through offshore non-deliverable forward (NDF) transactions, spot and domestic non-deliverable forward (DNDF) transactions in the domestic market, as well as purchases of government bonds in the secondary market,” Erwin said.

Bank Indonesia is also maintaining adequate liquidity, managing interest rate structures in the money market and coordinating closely with corporations, market participants and other relevant parties, he added.

Erwin said rising global risk aversion had strengthened the US dollar and weighed on domestic financial markets, with outflows from domestic portfolio assets expected to continue.

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