The rupiah weakened the most in four years, prompting the Bank of Indonesia to intervene.

The rupiah weakened to the most in four years at 4 rupiah per dollar on June 16,293, 5, prompting the Bank of Indonesia to intervene and raise interest rates.

On June 5, 2567, Bloomberg News reported that Indonesia's rupiah weakens to the most in 4 years Prompting Indonesia's central bank to verbally signal its intention to intervene in the currency.

The rupiah depreciated as much as 0.5% to 16,293 rupiah per dollar on June 5, 2567, the weakest since April 2563, making it one of the world's highest-yielding currencies. Asia is below the level This prompted Bank Indonesia to unexpectedly raise interest rates. in April to support the currency

Perry Varjiyo, Governor of the Central Bank of Indonesia said he would try further to maintain the stability of the rupiah currency. and restrain foreign outflows amid seasonal dividend market fluctuations. and the outflow of Hajj pilgrims, coupled with a declining trade surplus. which affects the value of the currency

Indonesia's central bank governor said the currency is likely to remain stable going forward. and is expected to strengthen during 15,300-15,700 per dollar next year

Moh Siong Sim, FX Strategist It said: “Prolonged fears of EM unraveling continue to weigh on the rupiah. The IDR flow picture remains quite challenging in the short term. Amid dividend payments by Indonesian companies to continue until mid-July.”

refer : bloomberg.com

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