BI Assures Market Stability After Governor Perry Warjiyo's Resignation

Bank Indonesia (BI) is actively working to calm financial markets after the surprising resignation of Governor Perry Warjiyo. Acting Governor Destry Damayanti has assured the public and market participants of BI's commitment to maintaining continuity in monetary policy and actively intervening to stabilize the rupiah's exchange rate.

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For the market, of course, we hope there is no need to panic. Bank Indonesia will continue to carry out the policies that we have carried out previously.

Speaking after a meeting with President Prabowo Subianto, Damayanti urged market players to remain confident, emphasizing that the central bank's policies on monetary stability and the financial system will not change. "For the market, of course, we hope there is no need to panic. Bank Indonesia will continue to carry out the policies that we have carried out previously," she stated.

The primary focus for BI remains the preservation of exchange rate stability, a cornerstone of its monetary framework. To mitigate potential market volatility, BI will maintain its active presence across various trading channels, including spot markets, non-deliverable forwards (NDFs), and domestic non-deliverable forwards (DNDFs).

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Leadership at Bank Indonesia is carried out collectively and collegially.

Beyond currency defense, BI intends to sustain its growth-oriented macroprudential stance. Damayanti reiterated recent decisions from the July Board of Governors Meeting, highlighting ongoing measures to attract foreign capital through incentives designed to reduce hedging costs for international investors. She also reassured investors about BI's governance structure, emphasizing that leadership is collective and collegial, ensuring the institution's mandate and duties will continue without disruption.

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We certainly hope that stability in our financial market will recover and return to normal quickly.