Investors are cheering new Indonesian central bank Governor Perry Warjiyo for calling an unscheduled policy meeting on Wednesday in an effort to stem a rout in the rupiah.
The Indonesian currency strengthened for a third day, rising 1 percent against the dollar as of 3:30 p.m. in Jakarta, while the benchmark Jakarta Composite Index advanced 1.5 percent. The nation’s 10-year bond yield dropped 21 basis points to 7.16 percent in a third day of declines.
