Indonesia central bank makes market intervention after rupiah depreciation
[JAKARTA] Indonesia's central bank intervened in the foreign exchange market in a measured way on Thursday (Jun 19), an official said, after the rupiah had fallen to a one-month low against the US dollar.
The rupiah was down by about 0.6 per cent on the day at 16,400 per dollar as of 0807 GMT, LSEG data showed.
The depreciation was due to the US Federal Reserve's decision to hold its key interest rate on Wednesday as well as rising geopolitical tensions in the Middle East, said Erwin Gunawan Hutapea, head of the monetary department at Bank Indonesia's (BI).
'Going forward, BI will continue to pay close attention to global and domestic dynamics and maintain exchange rate stability as part of its commitment to support economic recovery and maintain inflation within the target range,' he told Reuters.
BI decided to pause its easing cycle on Wednesday after cutting interest rates three times since September. REUTERS
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Indonesia central bank makes market intervention after rupiah depreciation
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