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Bank Indonesia Seen Keeping Rupiah Bears at Bay as EM Risks Rise

  • Focus on FX stability to see central bank hold rates Thursday
  • Rupiah forecast to deliver best Asia total return by mid-2020
Passengers ride onboard a train at a railway station in Jakarta.

Passengers ride onboard a train at a railway station in Jakarta.

Photographer: Muhammad Fadli/Bloomberg
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Indonesia’s rupiah has braved headwinds both at home and abroad to escape largely unscathed in the recent emerging-market sell-off, and the nation’s central bank is largely to thank for that.