Bank Indonesia Governor Perry Warjiyo stated on Monday during a parliamentary hearing in Jakarta that the central bank is closely monitoring the volatility of the Indonesian rupiah, assessing it based on the 20-day average exchange rate trend.

The rupiah exchange rate remains stable, with its 5.8% depreciation since the beginning of the year still within a manageable range.

There is confidence that the rupiah will return to the average range of 16,200 to 16,800 assumed in this year's national budget.

Due to increased US dollar demand, the Indonesian rupiah faces seasonal depreciation pressure every second quarter, but it typically strengthens in the following quarter.