Indonesian rupiah heading to 'new normal', no need to panic: central bank
[JAKARTA] Indonesia's rupiah was heading to a "new normal" and there was no need to panic, the central bank governor said on Wednesday, after the currency hit a 17-year low.
President Joko Widodo held talks with senior central bank and economic ministers late on Wednesday, as the rupiah fell to its lowest level since August 1998.
"We don't need to panic and worry because this is a step towards a new normal," Bank Indonesia Governor Agus Martowardojo said after the Jakarta meeting, adding that the central bank would ensure dollar availability in the forex market.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Slowing global economy to mean smaller revenue bump in Australian budget
Emerging-market optimism dashed by Fed as currencies, bonds sink
France’s Macron set to press China’s Xi on trade, Ukraine
Israeli Cabinet votes to shut down Al Jazeera’s local operations
Ukraine eases some wartime capital controls for businesses
Labour mayor wins cap triumphant election run for Starmer