For the first time in the last four years, on April 19, 2024, the Indonesian currency, the rupiah, experienced a decline, reaching a rate of 16,200 per US dollar. Responding to the potential crisis at hand, the Central Bank of Indonesia (BI) intervened to stabilize the balance between supply and demand in the market. The institution even conducted a Board of Governors meeting on April 23 to 24, 2024 to discuss the benchmark interest rate amidst the depreciation of rupiah.