The falling rupiah has forced Indonesia’s central bank to make its presence felt in the FX markets.
The USD/IDR rose to 14,777 today, the highest level in more than 20 years and the 10-year government bond yield jumped to a 21-month high of 8.22 percent.
In response, the central bank is intervening in FX and bond markets, Nanang Hendarsah, head of monetary management at BI, said in a text message.
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