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RUPIAH - JAKARTA. Indonesia's central bank has intervened with "slightly higher intensity" in the spot foreign exchange and domestic non-deliverable forward markets to avoid "extreme" rupiah volatility, a senior official said on Friday.
The rupiah hit a fresh 3-year low of 15,860 per U.S. dollar earlier on Friday.
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Edi Susianto, Bank Indonesia's (BI) head of monetary management, told Reuters the rupiah's depreciation was triggered by market worries about the Middle East conflict, U.S. monetary tightening, as well as concerns regarding the economic performance of the European Union and China.
Read Also: Indonesia Central Bank Unexpectedly Raises Rates Amid Weaker Rupiah
BI surprised markets by raising rates by 25 basis points on Thursday to try to arrest the decline in the rupiah, its second rate hike this year. The previous rate hike was in January.
