The rupiah's slide throughout 2026 is testing the resilience of Indonesian students studying in Australia. Raga Zoelya shared how he's navigating the cost of living in Melbourne to complete his master's.
In May 2025, Raga Zoelya exchanged his rupiah for Australian dollars at around IDR 10,600 to the dollar and flew to Melbourne to start a Master of Management (Human Resources) at the University of Melbourne, he said. He and his family had budgeted enough to cover the full two-year programme, Zoelya added.
That budget is now under serious pressure. The rupiah has slid steadily through 2026, closing on Friday, 5 June, at IDR 12,700 per AUD and IDR 18,096 per USD. For Indonesian students living off savings brought from home, every shift in the rate means less money in their pockets.
Zoelya has adjusted accordingly. He cooks almost every meal, eats out roughly once a month instead of once a week, and spends his weekends urban trekking through Melbourne's parks and laneways, something he genuinely enjoys and that costs nothing. He is also hunting for part-time work to supplement what he has left.
So many people are affected by the exchange rate. I'm one of them, and so are plenty of other international students who came here carrying rupiah.Raga Zoelya - Mahasiswa di Australia
What is his plan to make it to graduation, and has he ever considered walking away?
Listen to the full story on the SBS Indonesian podcast.
