Indonesia central bank has intervened in FX market, official says

INDONESIA’S central bank has intervened in the foreign exchange market on Friday, a senior official said, as rupiah weakened to its lowest level against the US dollar in more than two weeks.

The head of Bank Indonesia’s monetary department, Edi Susianto, told Reuters the depreciation was due to US economic growth data that was higher than market expectations and foreign currency demand from state energy firm Pertamina and other companies for repatriation purposes.

On Friday, the rupiah fell as much as 0.31 per cent to 16,295 per dollar, its weakest since July 9. REUTERS