Indonesia Rupiah Advances as Intervention Anticipated
The Indonesia rupiah advanced today on speculation that the nation’s central bank will intervene, buying the currency, to reduce currency volatility and slow growth of consumer prices.
Analysts speculate that the Bank Indonesia may boost its interest rates after keeping them unchanged on the last policy meeting. The bank may do so to keep inflation in check after it jumped the highest level in seven months. Indonesia’s central bank may slow inflation growth and lower volatility by removing surplus funds from the financial system.
USD/IDR fell from 9,175.0000 to 9,150.0000 as of 9:24 GMT today.
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Earlier News About the Indonesian Rupiah:
- Indonesian Rupiah Rises with Other Asian Currencies on Positive Sentiment (2011-12-16)
- Indonesian Rupiah Falls as Central Bank Cuts Interest Rates (2011-11-10)
- Indonesia Intervenes to Support Rupiah, India & South Korea Follow (2011-09-14)
- Worries About Europe Ease, Indonesian Rupiah Gains (2011-06-06)
- Indonesian Rupiah Gains on Positive Growth Outlook (2011-05-10)