Today's Top 3 News: 7 BI Rupiah-Strengthening Strategies Approved by Prabowo

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TEMPO.CO, Jakarta - Tempo English compiled the top 3 news on Wednesday, May 6, 2026. Here are the highlights: Philippines' Mayon Volcano Spews Ash; Prabowo Approves 7 Bank Indonesia Measures to Strengthen Rupiah; and Why Did Bank Indonesia Cut Dollar Purchase Limit to US$50,000?

The following is the list of the top 3 news on Tempo English today:

1. Philippines' Mayon Volcano Spews Ash

The Mayon Volcano in the Philippines erupted, prompting the evacuation of dozens of surrounding villages, authorities said Sunday.

In an alert published on its website, the Philippine Institute of Volcanology and Seismology (Phivolcs) warned of a "high level of magmatic activity," with lava flows stretching several kilometers.

It issued a Level 3 alert and said a permanent danger zone within a 6-kilometer (3.7-mile) radius of the volcano's crater must be strictly observed. Here are the details.

2. Prabowo Approves 7 Bank Indonesia Measures to Strengthen Rupiah

Indonesian President Prabowo Subianto has approved seven Bank Indonesia (BI) strategies to strengthen the rupiah after recent pressure on the currency in the foreign exchange market.

“We reported to the President, and the President approved and then reinforced seven important steps taken by Bank Indonesia to strengthen the rupiah and stabilize it going forward,” Bank Indonesia Governor Perry Warjiyo said in a press briefing.

The first strategy is for Bank Indonesia to further strengthen its interventions in the foreign exchange market, both domestically and internationally, in order to maintain rupiah stability. Click here to read the remaining six strategies.

3. Why Did Bank Indonesia Cut Dollar Purchase Limit to US$50,000?

Bank Indonesia has lowered the limit for purchasing US dollars without underlying documents from US$100,000 to US$50,000 per person per month, in a move aimed at supporting rupiah stability amid global pressure.

The policy was announced by BI Governor Perry Warjiyo after a meeting with President Prabowo Subianto and the Financial System Stability Committee at the Merdeka Palace on Tuesday, May 5, 2026.

This step is part of efforts to stabilize the rupiah exchange rate and curb speculative activity in the domestic foreign exchange market, with further tightening still under consideration.

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