The Indonesian rupiah has weakened past the Rp18,000 per US dollar threshold, marking a fresh low for the currency amid broad-based dollar strength.
Finance Minister Purbaya Yudhi Sadewa addressed the slide on Wednesday, declining to offer direct commentary on the exchange rate movement.
Instead, he directed inquiries to the Bank Indonesia, signaling a division of labor between the fiscal and monetary authorities on currency management.
The move past the psychological Rp18,000 level underscores the pressure facing emerging market currencies as the US dollar index climbs to its highest level in 13 months.
Traders have been adjusting expectations for Federal Reserve policy, driving a wave of buying interest in the greenback.
This shift in sentiment has reshaped the foreign exchange landscape, with investors fleeing risk assets and seeking the safety of the dollar.