Bank Indonesia conducts triple intervention to maintain market stability, Rupiah off lows

Dhwani Mehta FXStreet

Indonesia's central bank has intervened in the spot currency, domestic non-deliverable forward (DNDF) and bond markets to maintain market stability, Nanang Hendarsah, head of Bank Indonesia's (BI) monetary management department, told Reuters on Wednesday.

Key Quotes:

"Triple intervention since this morning."

"Still ongoing in the bond and DNDF markets," adding that he sees volatility in Indonesian markets to be temporary due to rising tensions in the Middle East.

On the intervention news, the USD/IDR pair trades around 13,927 levels, easing from daily highs of 13,940, still up 0.40% amid escalating US-Iran geopolitical tensions. Iran hit the US military bases in Iraq during the early Asian morning on Wednesday.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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