Indonesia central bank intervenes to balance FX supply-demand, build market confidence-official By Reuters

Indonesia central bank intervenes to balance FX supply-demand, build market confidence-official

© Reuters. FILE PHOTO: People walk to an entrance at Indonesia's central bank Bank Indonesia in Jakarta, Indonesia July 21, 2016. REUTERS/Iqro Rinaldi/File PhotoJAKARTA - Indonesia's central bank kept a presence in the foreign exchange market to maintain a supply-demand balance and build market confidence, an official said on Tuesday, using a phrase the bank typically uses to describe currency intervention.

The rupiah's depreciation was due to sentiment against risky assets related to U.S. monetary policy, Edi Susianto, Bank Indonesia's head of monetary management, told Reuters. The rupiah hit its lowest level since Jan. 6 of 15,610 a dollar earlier on Tuesday.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.

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