Official: Bank Indonesia intervenes to stabilize markets

Dhwani Mehta FXStreet

According to an official at Bank Indonesia (BI), the Indonesian central bank has intervened in spot fx, domestic NDF and bond markets to stabilize markets this Monday.

The official added that the BI will maintain a presence at markets until closing time to guard stability.

On the intervention news, the USD/IDR pair extends its retreat from six-day highs of 13,970 to now trade near 13, 958.50 levels.

This comes after the Asian currencies fell sharply on rising oil prices, in the wake of heightening US-Iran geopolitical tensions.

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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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