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Indonesian central bank governor says will maintain stability of rupiah
[JAKARTA] Indonesian central bank governor said the bank will remain in the foreign exchange market to maintain stability of the rupiah as the currency trades at its weakest level since August 1998.
"Bank Indonesia will maintain stability of the rupiah so fluctuation is not excessive," governor Agus Martowardojo told reporters on Monday.
Besides worries of the US Federal Reserve hiking interest rates and uncertainty over Greece's precarious financial situation, the governor said that Indonesia's level of inflation is also relatively high which is a concern for the forex market.