BI’s fight to defend the rupiah: Will it succeed?
Following Bank Indonesia’s (BI) decision to raise its reference rate by a significant amount last month to stem the slide of the rupiah, the rupiah has not budged from its position. The rupiah strengthened against the United States dollar after BI raised its seven-day reverse repo rate by 50 basis points to 5.25 percent.
However, one week after BI’s decision, its value dropped again to...
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