Bank Indonesia to Intervene Heavily to Support Rupiah
Bank Indonesia will intervene in global markets to stabilize the rupiah after it hit a record low. The bank is also tightening FX rules to curb speculation.
Xurve View
Xurve View
Indonesia's central bank will deploy foreign exchange reserves for constant market interventions to stabilize the rupiah after it hit 17,445 per dollar. The currency fell to a record low on Tuesday before recovering 0.3% on Thursday. Investors face heightened volatility as the rupiah remains one of Asia's worst-performing currencies, falling 4% this year.
