JAKARTA (Reuters) – Indonesia’s central bank kept a presence in the foreign exchange market to maintain a supply-demand balance and build market confidence, an official said on Tuesday, using a phrase the bank typically uses to describe currency intervention.
The rupiah’s depreciation was due to sentiment against risky assets related to U.S. monetary policy, Edi Susianto, Bank Indonesia’s head of monetary management, told Reuters. The rupiah hit its lowest level since Jan. 6 of 15,610 a dollar earlier on Tuesday.
Read the full article here