Indonesia central bank to continue interventions in FX markets to ensure rupiah reflect fundamentals, official says

JAKARTA: Indonesia central bank to continue intervening in the foreign currency markets to ensure the rupiah reflects its fundamentals, a bank official said on Monday after the rupiah had fallen to a fresh one-month low against the US dollar.

The rupiah was down by about 0.5% on the day at 16,460 per dollar as of 0230 GMT, LSEG data showed.

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The depreciation occurred as investors sought to avoid riskier assets after the U.S attack on Iran’s nuclear sites, Erwin Gunawan Hutapea, head of the monetary department at Bank Indonesia, told Reuters.