Indonesian rupiah hits four-year low, prompts cenbank intervention
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The Indonesian rupiah weakened to its weakest level in four years, reaching 16,200 per US dollar, prompting the central bank to intervene. The decline was influenced by the US dollar gaining strength due to strong US economic data and rising inflation. Bank Indonesia is taking steps to maintain rupiah stability through triple interventions, including maintaining supply-demand balance in the foreign exchange market and boosting the attractiveness of rupiah-denominated assets. The benchmark stock index also weakened, dropping 3.02% before recovering some losses. The yield of the benchmark 10-year bonds rose to 6.83%, the highest since November 2023.



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