Indonesian rupiah is undervalued, 13,200-13,300 more suitable level

JAKARTA: An Indonesian central bank official on Friday said the level of 13,200 - 13,300 would be a more "suitable" level for the rupiah against the US dollar.

Bank Indonesia senior deputy governor Mirza Adityaswara said the rupiah is currently undervalued following the dollar's rise in recent weeks on growing expectations of faster US interest rates hikes.

The rupiah was traded at 13,750 per dollar at 0716 GMT on Friday, according to Thomson Reuters data. It touched 13,800 for the first time since February 2016 on Thursday, prompting intervention by the central bank.