Jakarta, Indonesia Sentinel — Google has responded to widespread confusion caused by a major error in its currency conversion feature, which displayed the U.S. dollar (USD) trading at an implausibly low rate of IDR 8,170 on its search platform. The error also affected other currencies, including the euro, causing inaccurate exchange rates to appear on Google Search.
“We are aware of an issue affecting the accuracy of Indonesian Rupiah (IDR) exchange rates on Google Search. Our currency conversion data comes from third-party sources. Upon identifying inaccuracies, we promptly reached out to the data provider to correct the error,” a Google Indonesia spokesperson told CNBC Indonesia on Saturday, February 1, 2024.
Google Finance, which provides financial data on stocks and currencies, partners with various third-party data providers. However, the platform clearly states that it “cannot guarantee the accuracy of the exchange rates displayed.” The company added that the system is still undergoing recovery, with no definite timeline for when normal operations will resume.
The glitch sparked confusion and speculation across social media platforms, as users noticed the stark discrepancy between Google’s figures and official data from financial institutions. The inaccurate rate suggested the Indonesian Rupiah had dramatically appreciated against the dollar overnight, which would have signaled a significant shift in global financial markets—had it been true.
Responding to the situation, Bank Indonesia’s Head of Communications Department, Ramdan Denny Prakoso, emphasized that the exchange rate shown on Google was incorrect. “The USD/IDR exchange rate of IDR 8,100 displayed on Google is not accurate. According to Bank Indonesia’s data, the official rate was IDR 16,312 per USD as of January 31, 2025,” Prakoso stated to CNBC Indonesia.
Bank Indonesia’s official website recorded the USD/IDR selling rate at IDR 16,340.30 and the buying rate at IDR 16,177.70. Additionally, the Jakarta Interbank Spot Dollar Rate (JISDOR) closed at IDR 16,312.00 on the previous trading day.
Financial analysts note that such discrepancies can have serious implications, especially for businesses and individuals relying on real-time exchange rate data for international transactions. While Google’s disclaimer about data accuracy may shield it from liability, the incident underscores the risks associated with relying solely on automated systems for financial information.
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The error also raised concerns about data integrity and the reliability of third-party financial data providers. Inaccuracies in currency conversion tools can lead to confusion, misinformed decisions, and even financial losses in certain cases.
As Google continues to work with its data providers to resolve the issue, financial experts advise users to cross-reference currency exchange rates with official sources, such as central banks and reputable financial institutions, especially when making critical financial decisions.
(Becky)
