Indonesia looks to slash zeroes off currency notes

Jakarta

INDONESIA'S central bank is reviving a plan to redenominate the currency of South-east Asia's biggest economy despite the threat of market turmoil as the US steps up the pace of interest-rate increases.

"Redenomination must be done while the economy is stable," Bank Indonesia senior deputy governor Mirza Adityaswara told reporters in Jakarta on Monday. "Now, at this moment, it can be done. The exchange rate has been turbulent but it won't have too much of an impact. The main thing is that the economy must be stable."