Jakarta. Bank Indonesia Governor Perry Warjiyo says the rupiah is expected to strengthen against the US dollar starting in July after facing seasonal pressure in the second quarter, even as lawmakers criticize the central bank over the currency’s prolonged weakness.

Perry told a hearing of the House Commission XI on Monday that the rupiah’s 5.4% depreciation remained within a “manageable” range, as BI measures exchange-rate stability based on the annual average level rather than short-term fluctuations.

“We assess rupiah stability based on the annual average exchange rate assumption,” Perry said during the hearing at the Parliament Complex in Jakarta. “Historically, the rupiah usually comes under pressure in April, May, and June because demand for US dollars rises.”

According to Perry, demand for dollars typically increases during the period due to government and private-sector spending, putting seasonal pressure on the local currency.

He said the central bank expects the rupiah to rebound beginning in July and continue strengthening through the rest of the year.

“In July and August, the rupiah will strengthen again, and it should continue improving through September,” Perry said. “That is why we remain confident.”

The rupiah traded at a record low of Rp 17,669 per US dollar in the spot market on Monday, according to Bloomberg data. Against the euro, the currency weakened to Rp 20,547.

During the same hearing, Commission XI member Primus Yustisio openly urged Perry to resign, arguing that the rupiah’s weakness had extended beyond the dollar and reflected declining confidence in BI’s credibility.

“BI has set aside its credibility, and as the leader of the central bank, you must be willing to take responsibility,” Primus said. “Sometimes taking a gentlemanly step is not an insult. Perhaps now is the time for you to resign.”

The criticism comes as Indonesia’s currency remains under pressure from global dollar strength, capital outflows, and market concerns over domestic fiscal and economic conditions.

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