Bank Indonesia Prioritizes Stability as Rupiah Hits Record Lows

Indonesia’s central bank is continuing to intervene in the markets with stability its “top priority” following the currency’s three-day slide to multiple record lows against the dollar.

“BI will optimize the use of all available monetary policy instruments and measures to maintain exchange rate stability,” Senior Deputy Governor Destry Damayanti said in a statement on Tuesday. The central bank “will consistently and measurably maintain a presence” in the spot, domestic non-deliverable forward and offshore NDF markets, she said.