Indonesia pledges to guard currency ‘boldly’ as rupiah weakens

JAKARTA: Indonesia’s central bank intervened in the foreign-exchange market as it pledged to boldly guard the currency, which has fallen to the lowest in more than four months.

"We will guard the rupiah boldly to build market confidence,” Bank Indonesia Executive Director for Monetary and Asset Securities Management Edi Susianto said on Friday (Dec 20). The central bank is intervening in the spot, domestic non-deliverable forward and secondary government bond markets to support rupiah, he said.

The currency fell to 16,305 per dollar on Friday, the lowest since end of July, as a hawkish Federal Reserve boosted the greenback. - Bloomberg