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Indonesia's central bank intervenes in market to stem volatility in rupiah

Published September 29, 2014 Updated September 29, 2014 01:29pm
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By Shoaib Ur Rehman
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imageJAKARTA: Indonesia's central bank said on Monday it intervened in the foreign exchange market by injecting dollars to stem volatility in the rupiah.

"Bank Indonesia will not allow large fluctuation of rupiah by adding US dollar supply to the market," Mirza Adityaswara, senior deputy governor of Bank Indonesia, told Reuters.

The rupiah was traded at 12,165 to the dollar, a seven-month low, due to political uncertainty and in response to the US dollar's broad strength.

Copyright Reuters, 2014

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