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Indonesia's Acting Governor Named as Rupiah Hits Record Low

7/27/2026

38 7 Full Breakdown

Summary

Story summary

President Prabowo Subianto accepted Perry Warjiyo’s resignation and appointed Senior Deputy Governor Destry Damayanti acting governor.
The resignation arrived as the government urged the bank to meet an 8% growth target after a June law expanded its mandate to support growth and jobs.
The rupiah fell to a record low of 18,171 per US dollar on June 8, and the benchmark rate stayed at 5.75% after three 100-basis-point hikes since May.

History

Historical Context

The 1997 Asian financial crisis sent Indonesia’s rupiah from about Rp 2,600 per dollar in August 1997 to over Rp 14,800 by January 1998, prompting a $43 billion IMF rescue and President Suharto’s May 1998 resignation. Echoing that turmoil, President Prabowo accepted Perry Warjiyo’s June 2024 resignation, naming Destry Damayanti acting governor as the rupiah fell to a record-low Rp 18,171 per dollar.

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Story summary

President Prabowo Subianto accepted Perry Warjiyo’s resignation and appointed Senior Deputy Governor Destry Damayanti acting governor.
The resignation arrived as the government urged the bank to meet an 8% growth target after a June law expanded its mandate to support growth and jobs.
The rupiah fell to a record low of 18,171 per US dollar on June 8, and the benchmark rate stayed at 5.75% after three 100-basis-point hikes since May.

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