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View all search resultsThe central bank has decided to keep the BI-Rate unchanged at 4.75 percent to prevent the rupiah from spiraling ever downward amid the nearly two-month war in Iran as the currency hit a record low of Rp 17,193 per greenback on Wednesday, while experts pointed to a narrowing room for monetary policy in its aim to secure financial stability.
Indonesia shaved US$4.6 billion off its foreign exchange (forex) reserves in April as the government serviced foreign debts and the central bank intervened in the market to stabilize the rupiah’s exchange rate amid the tariff turmoil.
Bank Indonesia (BI) revealed on Friday that Indonesian foreign exchange (forex) reserves dwindled for the third consecutive month in September, but the central bank said the reserve level remained “high”.
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