JAKARTA (Reuters) -Indonesia’s central bank will remain active in the foreign exchange market to ensure the rupiah aligns with fundamentals, an official said after the currency dropped 1% against the dollar on Friday.
Bank Indonesia (BI) will continue to take action to stabilise the rupiah by intervening in offshore and onshore non-deliverable forward markets and the spot market, Erwin Gunawan Hutapea, the head of the bank’s monetary department, told Reuters.
It will also continue buying government bonds on the secondary market, he said.
The rupiah had dropped by as much as 0.95% against the dollar to 16,945 on Friday 03:47 GMT, its weakest level since August 1.
(Reporting by Stefanno Sulaiman)
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