Bank Indonesia said on Monday it will intervene in the foreign exchange market to ensure it operates smoothly, and will use offshore non-deliverable forwards, domestic non-deliverable forwards, spot foreign exchange and purchases of bonds in the secondary market.
Erwin Gunawan Hutapea, the central bank’s head of monetary management, said the rupiah’s depreciation on Monday was due to the impact of high oil prices on global inflation and the fiscal outlook.
Source: Reuters
