Indonesia Tells State Firms to Refrain From Buying Dollars
- Large dollar purchases are unwise while rupiah falls: Minister
- Rupiah seen to reach 16,500 per dollar if Mideast risks worsen
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Indonesia discouraged its state-owned enterprises from making huge dollar purchases, showing the all-hands-on-deck approach that the nation has taken to support the rupiah.
State-run firms with large import requirements or foreign currency-denominated debt must avoid buying large amounts of US dollars while the rupiah is under pressure, Coordinating Minister for Economic Affairs Airlangga Hartarto said in a briefing on Thursday.