Indonesia's central bank has stepped in to stabilize the rupiah as it approaches the critical level of 16,000 per dollar. The intervention includes actions in the spot currency market, domestic non-deliverable forwards, and the government bond market, according to Executive Director Edi Susianto, who noted that dollar supply remains adequate.
Bank Indonesia is optimistic that the rupiah will endure short-term financial market volatility, with expectations of strengthening despite potential fluctuations. Edi Susianto, an executive director at the central bank, noted that pressures are primarily driven by sentiment related to the Federal Reserve's policy rate adjustments and the upcoming US election results.
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