Indonesian rupiah jumps over 2pc

SINGAPORE: The Indonesian rupiah jumped more than 2 percent on Monday as the central bank and foreign lenders provided more support to the currency after a surprise trade surplus in October.

The rupiah rose 2.3 percent to 11,690 per dollar as of 0710 GMT.

Bank Indonesia was spotted selling dollars, traders said. Foreign banks bought the rupiah as the Indonesian unit advanced in non-deliverable forwards (NDFs) markets, traders added.

Indonesia posted a small and unexpected trade surplus in October after the central bank tightened monetary policy to slow the economy and imports.