Bank Indonesia says will act boldly to maintain rupiah stability
Tweet
Share
E-mail
FILE PHOTO: Indonesia's Central Bank Governor Perry Warjiyo arrives for a press conference along with his deputies, at Bank Indonesia's headquarters in Jakarta, Indonesia, January 15, 2025. REUTERS/Willy Kurniawan/File photo
JAKARTA (Reuters) - Indonesia's central bank will act boldly to maintain rupiah stability by intervening in the spot, domestic non-deliverable forwards, and bond markets, a deputy governor said on Wednesday after the rupiah hit a record low against the dollar.
Senior deputy governor Destry Damayanti told Reuters that moves in domestic bonds on Wednesday indicated that investors still had confidence in the sovereign bond market.
The rupiah hit a record low of 16,970 per dollar on Wednesday morning, before paring some of its losses, according to LSEG data. Destry said regional currencies were weaker on the day because of the escalating global trade war.
"This was triggered by President Trump's decision to suddenly decide to increase tariffs on Chinese products by 104%." she said, adding the domestic economy remained resilient.
It was the second day in a row that the rupiah had fallen to a record low. Indonesia's financial markets felt the whiplash from the U.S. tariff announcement on Tuesday when markets reopened after a long holiday period.
(Reporting by Stefanno Sulaiman; editing by John Mair)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oil falls after US, Iran talks conclude in Doha
- Dollar steady as focus turns to US payrolls, yen intervention jitters persist
- Trading Day: Stocks dip as sluggish July shuffles in
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
