Jakarta. Indonesian monetary authorities must take concrete action to strengthen and stabilize the rupiah instead of relying solely on reassuring public statements, a senior lawmaker said on Sunday, as the currency continued to weaken against the US dollar.

Mukhamad Misbakhun, chairman of the House of Representatives’ Commission XI overseeing finance, monetary affairs, and national development planning, said efforts to address the rupiah’s depreciation cannot depend merely on rhetoric aimed at calming the public and financial markets.

According to Misbakhun, market participants are now waiting for tangible policy measures from Bank Indonesia and other authorities to stabilize the currency and restore investor confidence.

He noted that Bank Indonesia Governor Perry Warjiyo had previously told lawmakers that the rupiah is currently undervalued and does not reflect Indonesia’s relatively strong economic fundamentals.

The rupiah has recently approached Rp 17,600 per US dollar, while some analysts have projected further depreciation toward Rp 18,000 by the end of May -- significantly weaker than the Rp 16,500 exchange-rate assumption used in Indonesia’s 2026 state budget.

“Bank Indonesia must immediately carry out concrete stabilization efforts to return the rupiah to an adequate level of strength, because the governor himself has stated that the rupiah is undervalued,” Misbakhun said.

He added that it is the central bank’s responsibility to guide the currency back toward what authorities consider its fair value.

Misbakhun also warned that the rupiah’s continued weakness has become a major public concern and could eventually affect perceptions of the central bank’s credibility.

“If this continues for too long, it could affect public confidence in Bank Indonesia because people may believe the central bank is unable to maintain or defend the rupiah at its proper level,” he said.

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