Bank Indonesia steps in to support weaker rupiah

The central bank said it intervened mainly in the spot and domestic non-deliverable forwards markets. — Bloomberg

JAKARTA: Bank Indonesia stepped in to support the rupiah after the currency weakened past 16,000 per US dollar for the first time in four years.

The central bank said it intervened mainly in the spot and domestic non-deliverable forwards markets, adding that the rupiah’s weakness was mainly driven by risk-off sentiment and US dollar gains.