Indonesia central bank says it will intervene in forex market to stabilize rupiah

JAKARTA: Indonesia's central bank spokesman says Bank Indonesia (BI) will intervene in the foreign exchange market to stabilize the rupiah a day after Joko "Jokowi" Widodo was named winner of this month's presidential election.

"BI will intervene so the fluctuations due to election sentiment are not too sharp," Peter Jacobs, BI spokesman told Reuters on Wednesday.

The rupiah strengthened to as much as 11,485 rupiah per dollar compared to its Tuesday close of 11,590.