Indonesia's Central Bank Intervenes in FX Market After the Rupiah Hits a Record Low

BANK INDONESIA / BI - JAKARTA. Bank Indonesia (BI) has intervened to maintain the rupiah's stability and avoid excessive volatility after the currency hit a record low against the dollar, Senior Deputy Governor Destry Damayanti told Reuters on Tuesday.

"Stabilising rupiah is certainly a top priority for us right now. We will use every tool and policy at our disposal, we will be all out," she said, adding the pressure on the currency was largely due to global dynamics, including the market reaction to the U.S.-Israeli war on Iran.