JAKARTA: The Indonesian rupiah’s fall to its lowest level against the dollar since June 1998 reflects both global and domestic factors and Bank Indonesia will intervene to maintain its stability, a central bank official told Reuters on Tuesday.
“Global uncertainty is still related to the impact of Trump’s tariff policy and geopolitical turmoil, including the impact of the trade war on China and many other emerging market countries in Asia,” said Fitra Jusdiman, BI’s director of monetary and securities asset management.
On Tuesday, rupiah weakened as much as 0.54% to a low of 16,640 per dollar, not far from its trough of 16,800 in June 1998, during the Asian Financial Crisis, data from LSEG shows.
Asian currencies: Indonesian rupiah hits near 5-year low
US President Donald Trump has already imposed tariffs on major trading partners, including China, Mexico, and Canada, and has said he will impose more tariffs next month.
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