Indonesia central bank says conducting "measured intervention" as rupiah falls to lowest since 1998
Add BT as a preferred source
[JAKARTA] Indonesia central bank said on Monday it is conducting "measured intervention" in foreign exchange markets, after the rupiah fell to its lowest level against the US dollar since 1998.
"We don't do excessive intervention, (we do) measured intervention. We will find a new equilibrium," spokesman Peter Jacobs told Reuters.
"We are not letting the rupiah depreciate too much."
Spot rupiah slid to 12,348 to the dollar on Monday, down nearly 0.5 per cent on the day and taking its decline so far this year to 1.6 per cent.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
DBS COO’s most important tip for AI transformation: Lead with ‘why’
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
