Indonesia central bank says rupiah decline under control

News Image

MG News | January 16, 2025 at 10:18 AM GMT+05:00

0:00

January 16, 2025 (MLN): Indonesia's central bank said the rupiah's fall against the U.S. dollar was still under control.

This came after the currency slid to its weakest level in more than six months on Thursday, following a surprise cut in interest rates the day before, as Reuters reported.

"The market reaction that occurred this morning is still under control and short term in nature," Edi Susianto, Bank Indonesia's head of monetary management, told Reuters.

He added that market participants are still digesting BI's decision from yesterday.

He said the central bank would ensure the supply and demand of foreign exchange in the market.

BI surprised investors on Wednesday when it cut its key benchmark policy rate by 25 bps to 5.75%, saying the decision was taken to support economic growth.

The rupiah was down as much as 0.4% to 16,383 per dollar on Thursday morning.

The currency weakened even as other Asian currencies, such as the yen, the Malaysian ringgit and Indian rupee, strengthened against the dollar.

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 116,945.00 119,740.00
116,945.00
-1350.00
-1.14%
BRENT CRUDE 73.34 73.63
71.75
0.83
1.14%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 70.14 70.51
68.45
0.93
1.34%
SUGAR #11 WORLD 16.46 16.58
16.37
-0.13
-0.78%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg