Indonesia will intervene in bond market in 'sizeable amount' to defend rupiah


  • Business
  • Thursday, 09 May 2019

The rupiah is down almost 9% against the dollar this year, falling to as low as 14,945 early this month and making it the second-worst performer in Asia.

JAKARTA: Indonesia central bank will intervene in sovereign bond markets to defend the rupiah, its head of monetary management Nanang Hendarsah said, as rising trade tensions between the United States and China weigh on emerging market currencies.

"Bank Indonesia is committed to maintain the stability of the rupiah, and will keep intervening in the bond market for sizeable amount," Hendarsah said.

The rupiah opened at 14,295 per dollar on Thursday, slipped slightly from 14,290 at previous closing. - Reuters
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