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Indonesia central bank says to prevent high volatility after rupiah fall

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Published Mon, Apr 25, 2022 · 11:47 AM
    • The rupiah dropped as much as 0.65 per cent in early trading on Monday.
    • The rupiah dropped as much as 0.65 per cent in early trading on Monday. PHOTO: REUTERS

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    INDONESIA'S central bank will make efforts to ensure the rupiah does not trade with high volatility and disrupt the market mechanism, Edi Susianto, the head of its monetary management department, said on Monday (Apr 25).

    “Of course, BI (Bank Indonesia) ensures that we will be in the market ... to maintain that the rupiah exchange rate does not move with very high volatility that has the potential to disrupt the market mechanism,” he told Reuters in a text message.

    The rupiah dropped as much as 0.65 per cent in early trading on Monday. Susianto said the drop was triggered by hawkish comments made by US Federal Reserve officials and Indonesia’s crude palm oil export ban, which was announced on Friday. REUTERS

    Bank IndonesiaCurrencies

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