Bank Indonesia intervention lifts rupiah from lowest position since 2020

Image from Jakarta Post/ANN.

JAKARTA, Sept 27 (Bloomberg): Bank Indonesia stepped in to prop up the rupiah for a second day, joining a host of other policy makers which are pushing back against a surging dollar.

Indonesian authorities are intervening in the spot and domestic non-deliverable forwards markets to prevent the rupiah from weakening excessively, Edi Susianto, executive director of monetary management, said in a text message Tuesday.