USD/IDR Price News: Indonesian rupiah hits four-month lows near $14,575 on BI Warijiyo’s comments
|Bank Indonesia (BI) will remain committed to keeping its monetary policy loose, in order to support economic recovery, the central bank Governor Perry Warjiyo said in a pre-recorded remarks for a Fitch Ratings' seminar on Wednesday.
Additional comments
"Will not hesitate to intervene" to guard the rupiah against external shock, using its so-called "triple intervention" in the spot, domestic non-deliverable forward and bond markets.”
"Our exchange rate basically and mostly will be determined by the market mechanism, supply-demand, but the central bank ensures the market mechanism is continuing to be consistent with the fundamentals.”
"We provide a commitment to ensure rupiah will be stable despite increasing uncertainty in the global market.”
"The rupiah exchange rate is important to support economic recovery."
Market reaction
The Indonesian rupiah tumbles to four-month troughs against the US dollar on dovish comments from Governor Warjiyo.
USD/IDR now trades at 14,570, up 0.69% on the day, having hit four-month tops at 14,577.
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