Indonesia central bank says rupiah rate 'adequate', will try to prevent fall
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[JAKARTA] Indonesia's central bank clarified that authorities' scenarios of the rupiah exchange rate dropping to historic low were not an outlook, but made to show they have prepared to prevent such fall, Governor Perry Warjiyo said on Wednesday.
Finance Minister Sri Mulyani Indrawati earlier showed scenarios of the rupiah falling to average at 17,500 to 20,000 per US dollar in 2020 due to market turbulence related to the coronavirus pandemic.
Mr Warjiyo said Bank Indonesia will continue to stabilise financial markets, including the rupiah's movement, and said the current exchange rate was "adequate". The currency traded at 16,410 per US dollar at 0347 GMT.
The governor also said there was no plan for capital control, but said the central bank may ask exporters to convert earnings into local currency.
REUTERS
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