Indonesia, India Intervene to Support Currencies Amid Iran War

Central banks in Indonesia and India intervened in foreign-exchange markets to cushion the impact of higher oil prices and a stronger dollar amid the military conflict in the Middle East.

Bank Indonesia will remain present in the market through interventions in the spot and non-deliverable forward markets, both onshore and offshore, Erwin Hutapea, executive director of monetary and securities asset management, said in a statement Monday.