Rupiah steadies; House panel approves Destry Damayanti as BI governor
Indonesian rupiah hovered around IDR 17,750 per U.S. dollar on Monday after recent weakness as the dollar index stayed near a two-week high. House Commission XI approved Destry Damayanti as BI governor for 2026–2031.
The Indonesian rupiah hovered around IDR 17,750 per U.S. dollar on Monday, stabilising after recent weakness as the dollar index held near a two-week high following hawkish remarks from Fed Chair Kevin Warsh.
His comments lifted expectations for a September rate hike, with odds priced near 57%.
Domestically, House Commission XI approved Destry Damayanti as Bank Indonesia’s new governor for 2026—2031, succeeding Perry Warjiyo, who abruptly resigned in July.
Destry pledged that closer policy coordination with the government would not compromise the central bank’s independence, stressing stability and growth as priorities.
Focus now shifts to key data: August inflation and July trade.
Inflation eased to 2.88% year-on-year, a three-month low within Bank Indonesia’s 1-1/2%—3-1/2% target band.
Meanwhile, June posted a second consecutive monthly trade deficit of US$450 million, driven by surging oil and gas imports, underscoring persistent external pressures.