Bank Indonesia Intervenes as Rupiah Hits Weakest in One Month

The Indonesian central bank intervened in foreign-exchange markets to stabilize the rupiah after the Federal Reserve’s hawkish tone sent the dollar surging to a two-month high overnight.

“The central bank ensures the stability of the rupiah to be in line with its fundamental value through various measures in the market,” Bank Indonesia executive director for monetary and securities management Erwin Hutapea told Bloomberg News in a text message on Thursday.