JAKARTA – The Indonesian central bank is ready to intervene in the spot, undeliverable and bond forward exchange markets, an official said on Friday after global stock markets tumbled over fears of coronaviruses.
“The Bank of Indonesia remains committed to maintaining the stability of the rupee,” Nanang Hendarsah, the bank’s chief monetary officer, told Reuters.
The rupee, which appreciated earlier this week, fell 0.35% Thursday to $ 14,160. The currency plunged 4% last week against the backdrop of capital outflows linked to fears of global spread of the coronavirus. (Report by Gayatri Suroyo; Edited by Christian Schmollinger)