Official: Bank Indonesia will remain in the market to stabilize market amid China’s coronavirus scare
|Bank Indonesia (BI) will remain in the market to stabilize the market to counter the negative impact of rapidly spreading China’s coronavirus outbreak internationally, an official at the Indonesian central bank said on Tuesday.
Additional Quotes:
The impact on the coronavirus epidemic in China to its economy is small.
BI maintains a 5.1%-5.5% 2020 growth outlook.
On Monday, Nanang Hendarsah, Head of monetary management at BI said that the central bank intervened in spot fx, domestic NDF and bond markets to stem the rupiah’s decline.
FX Implications:
The rupiah stages a solid comeback from a four-week low of 13,775 vs. the US dollar, tracking the rebound in the Chinese yuan and Asian equity markets. At the press time, USD/IDR trades 0.07% lower at 13,730 levels.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.