Indonesian students demand rupiah strengthening in 18 days, threaten protests

Student groups in Central Java, united under the Alliance of Student Executive Bodies of Indonesia (BEM SI), have issued a stark ultimatum to the government: strengthen the Indonesian rupiah within 18 days. The demand was delivered through Instagram posts by the BEM SI and Story Rakyat accounts on Sunday, June 7, 2026.

The alliance staged a protest in front of the Bank Indonesia representative office in Semarang on Friday, June 5, 2026, to voice their concerns. They warned that failure to meet the deadline would result in a large-scale demonstration dubbed "Reformasi Jilid 2," a reference to the mass protests that led to the fall of Suharto in 1998.

This ultimatum follows a national consolidation meeting held online by BEM SI on June 4, 2026. The meeting addressed the ongoing economic crisis in Indonesia, particularly the rupiah's sharp decline against the US dollar, which has reportedly reached Rp 18,000 per dollar. Discussions also covered fiscal expansion, rising unemployment, and the increasing cost of essential goods.

While the central coordinator for BEM SI, Muzammil Ihsan, has not yet responded to requests for details, the head of the Student Executive Body at the University of Indonesia, Yatalathof Ma'shum Imawan, confirmed that BEM UI is planning its own national consolidation. This includes focus group discussions and further meetings to address the current economic and democratic conditions under President Prabowo Subianto's administration. It remains uncertain if BEM UI will join a public demonstration.

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If the demands are not met, they threaten to hold a demonstration titled Reformasi Jilid 2.