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Bank Indonesia intervenes to help rupiah as emerging currencies weaken

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Indonesia's central bank intervened to support the rupiah currency on Friday as it weakened along with most Asian currencies.

[JAKARTA] Indonesia's central bank intervened to support the rupiah currency on Friday as it weakened along with most Asian currencies, an official told Reuters.

"We intervene but in a measured way because the market is more balanced now and the volatility has declined," said Nanang Hendarsah, who heads Bank Indonesia's department of monetary management.

The Indonesian currency fell on Friday as plunging Russian rouble and Turkish lira dragged down investor appetite for emerging market assets. By 0717 GMT, the rupiah had shed 0.4 per cent to its lowest in four days.

REUTERS

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