USD/IDR Price News: Bank Indonesia intervenes again to support the rupiah

Dhwani Mehta FXStreet

The Indonesian central bank, Bank Indonesia (BI), is reportedly intervening in the market to support the rupiah, said the central bank official on Thursday.

The BI intervened in foreign exchange markets on Wednesday to curb volatility in Rupiah's (IDR) exchange rate.

USD/IDR quickly retraced from four-month tops of 14,885 on the intervention report, now trading at 14,835, still up 0.40% on the day.

Meanwhile, the Indonesian stock markets tumbled over 4% to hit monthly lows on news that Jakarta will reinstate social distancing restrictions due to a rise in coronavirus infections.

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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