Bank Indonesia Pledges Smart FX Intervention as Rupiah Hits Record Low Against Dollar
Updated
Updated · Bloomberg · May 13
Bank Indonesia Pledges Smart FX Intervention as Rupiah Hits Record Low Against Dollar
1 articles · Updated · Bloomberg · May 13
Bank Indonesia said it will stay active in currency markets after the rupiah slid to a record low versus the US dollar.
Senior Deputy Governor Destry Damayanti said the central bank will use spot transactions, offshore and domestic non-deliverable forwards, and other monetary policy tools to ease pressure on the currency.
The pledge signals a broader defense strategy aimed at stabilizing the rupiah as depreciation intensifies and tests the central bank’s market-management toolkit.
Can 'smart interventions' truly save Indonesia's rupiah from the escalating global economic storm?
With strong growth but a record-low currency, is Indonesia's economy built on a fragile foundation?