USD/IDR: Rupiah stalls sell-off after Bank Indonesia intervenes in bond market

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Nanang Hendarsah, Head of Bank Indonesia’s (BI) monetary management department said in a text message on Monday, Indonesia’s central bank intervened in the bond market on Monday to support the Rupiah currency.

Hendarsah said: “Bank Indonesia is intervening in the bond market, it is still ongoing, to maintain the stability of the rupiah.”

Following the Saudi oil plants attack news-led risk aversion, the Indonesian Rupiah witnessed a sharp fall against its American peer, with USD/IDR rallying 0.60% to near 14,050 levels.

Rupiah hit fresh two-month tops vs. the US dollar on Friday at 13,905 amid dovish Fed expectations and US-China trade optimism.

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