Indonesian central bank "allowing" Rupiah to strengthen, USD/IDR hits 2-month lows

Dhwani Mehta FXStreet

Reuters is out with the latest comments by Bank Indonesia’s official, as he makes some comments on the likely intervention by the Indonesian central bank earlier today.

Key Points:

Indonesia is seeing "quite strong inflows" this morning.

Indonesia central bank is "allowing" Rupiah to strengthen.

Current exchange rate "still far from fundamentals".

Amidst the intervention by the Indonesian central bank to support the Rupiah, the USD/IDR pair extended the recent declines and hit fresh two-month lows at 14,080 last hour before recovering slightly to 14,117 levels, still down -0.45% on the day.

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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