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INDONESIA: BI Reportedly Intervened in Rupiah After Rate Cut

INDONESIA
EM BulletBulletIndonesiaAPACEmerging Market News
  • The central bank was active in the currency market helping support the rupiah after it came under pressure from a surprise rate cut Wednesday, Bloomberg report citing Asia-based traders. State banks were actively selling dollars, the traders said.
  • As a reminder, the rupiah has depreciated on the back of Bank Indonesia's unexpected decision to lower the key policy rate by 25bp, while the central bank vowed to continue stabilising the currency via market intervention.
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  • The central bank was active in the currency market helping support the rupiah after it came under pressure from a surprise rate cut Wednesday, Bloomberg report citing Asia-based traders. State banks were actively selling dollars, the traders said.
  • As a reminder, the rupiah has depreciated on the back of Bank Indonesia's unexpected decision to lower the key policy rate by 25bp, while the central bank vowed to continue stabilising the currency via market intervention.