Bank Indonesia Governor Perry Warjiyo (right) talks to the press in Jakarta on March 9. (JP/Eisya A. Eloksari)
JAKARTA, April 8 (The Jakarta Post/ANN) - Bank Indonesia (BI) has reached a repurchase agreement (repo) worth US$60 billion with the United States Federal Reserve to boost dollar liquidity supply following a fall in Indonesia’s foreign exchange reserves in March amid the COVID-19 pandemic.
Forex reserves dropped $9.4 billion last month to $121 billion as the central bank stepped up market intervention to stabilize the rupiah exchange rate amid heavy capital outflows, it announced on Tuesday.
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