TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsIndonesia to remain active in FX market after rupiah slide, BI says
The statement came after multiple days of student protests against lawmakers' pay, with a motorcycle rider died in a violent clash with police on Thursday.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
An employee counts rupiah bills at a money changer in Jakarta on March 14.
(Antara/Sigid Kurniawan)
I
ndonesia's central bank will remain active in the foreign exchange market to stabilize the rupiah, it said on Friday, while the stock exchange regulator said market fundamentals remained strong despite a sudden fall in prices.
The rupiah dropped nearly 1 percent on Friday to its weakest level since August 1 before regaining some of the losses. The stock index fell as much as 2 percent to reach its lowest point since August 12.
Bank Indonesia (BI) will continue to take action to stabilize the rupiah by intervening in offshore and onshore non-deliverable forward markets and the spot market, said Erwin Gunawan Hutapea, the head of the bank's monetary department.
It will also continue buying government bonds on the secondary market, he told Reuters.
Erwin did not elaborate on what caused the rupiah to lose value on Friday.
In response to the 2 percent dip in the stock market, the director of Indonesia's stock exchange regulator, Jeffrey Hendrik, told Reuters that the market's fundamentals remained strong and technical corrections are normal.
The statements from both authorities came after multiple days of student protests against lawmakers' pay, starting on Monday.
The students are expected to take to the street again on Friday after a motorcycle rider died in a violent clash with police on the previous day.
