Indonesia’s central bank intervened in foreign exchange markets on Wednesday to curb volatility in Rupiah’s (IDR) exchange rate.
“Bank Indonesia has intervened in the spot market, through brokers and interbank spot, as well as opening domestic non-deliverable forward auction, to smoothen volatility by still supporting (an) efficient market mechanism,” the central bank’s head of monetary management Nanang Hendarsah told Reuters.
The Rupiah fell by over 0.30% to 14,840 per US dollar on Wednesday, courtesy of the risk-off sentiment in the global equity markets.
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