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No. 27/71/DKom 

The Bank Indonesia Board of Governors agreed on 7th April 2025 to intervene in the offshore market (non-deliverable forwards - NDF) to stabilise the rupiah against intense global pressures. The reciprocal tariff policy announced by the US Administration on 2nd April 2025 and the retaliatory policy response by the Chinese Government announced on 4th April 2025 have triggered global financial market turmoil, accompanied by capital outflows and intense currency pressures in various jurisdictions, particularly emerging markets. Currency pressures on the rupiah have emerged in offshore NDF markets during the extended domestic market holiday to mark Eid-ul-Fitr 1446 H. 

Bank Indonesia is intervening continuously in offshore markets in Asia, Europe and New York. Furthermore, Bank Indonesia will also intervene aggressively in the domestic foreign exchange markets (Spot and DNDF) after opening on 8th April 2025, while purchasing government securities (SBN) in the secondary market. In addition, Bank Indonesia will also optimise rupiah liquidity instruments to ensure adequate liquidity in the money market and domestic banking industry. This series of measures taken by Bank Indonesia aims to stabilise rupiah exchange rates, while bolstering market and investor confidence in Indonesia.

Jakarta, 7th April 2025

Communication Department

Ramdan Denny Prakoso

Executive Director