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Bank Indonesia ready to intervene to steady rupiah
The Straits Times
|December 05, 2024
Indonesia's central bank said it is ready to intervene in currency markets to steady the rupiah as it weakened towards the psychological level of 16,000 per US dollar.
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Bank Indonesia (BI) will always be in the market to maintain market confidence, executive director for monetary and asset securities management Edi Susianto said in a text message on Dec 4.
Dollar demand coming from a state-owned company has been declining, which could ease pressure on the currency, he said.
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