Indonesian Central Bank Intervenes After Rupiah Weakens Beyond 16,000 [Yahoo! Finance]
MALAYAN BKNG BERHAD S/ADR (MLYBY)
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Source: Yahoo! Finance
(Bloomberg) -- Bank Indonesia stepped in to support the rupiah after the currency weakened past 16,000 per dollar for the first time in four years. Most Read from Bloomberg Beyond the Ivies: Surprise Winners in the List of Colleges With the Highest ROI Iran's Attack on Israel Sparks Race to Avert a Full-Blown War S&P 500 Breaks Below 5,100 as Big Tech Sells Off: Markets Wrap Trump Media's $5.3 Billion Selloff Deepens as 270% Rally Fizzles Apple Faces Worst iPhone Slump Since Covid as Rivals Rise The central bank said it intervened mainly in the spot and domestic non-deliverable forwards markets, adding that the rupiah's weakness was mainly driven by risk-off sentiment and dollar gains. The rupiah fell as much as 2.1% to 16,190 per dollar, the weakest level since April 2020, as local markets reopened Tuesday after being shut since April 8 for the Eid al-Fitr holiday. The rupiah's decline adds more pressure on Bank Indonesia as it seeks to maintain stability in the cu
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