Indonesia Uses ‘Quite Bold’ Intervention as Rupiah Breaks 16,000
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Indonesia said it intervened aggressively in the market to curb the rupiah’s decline as the currency weakened past the key psychological level of 16,000 against the dollar.
“We entered the market with a quite bold triple intervention,” Edi Susianto, executive director for monetary and asset securities management at Bank Indonesia said in text message Friday. Authorities entered the spot, domestic non-deliverable forward and government bond markets to maintain market confidence, he said.