Fri, July 30, 2010
Business > Industries

Indonesian central bank intervenes to curb rupiah appreciation

2010-07-30 09:06:20 GMT2010-07-30 17:06:20 (Beijing Time)  Xinhua English

JAKARTA, July 30 (Xinhua) -- Bank Indonesia (BI), the central bank, intervened money market on Friday to curb rupiah appreciation against U.S. dollar of below 9,000, detikcom online news quoted an official as saying.

Deputy Governor of BI Hartadi A. Sarwono told the news provider that the policy was taken to avoid panic among business players.

He confirmed that the appreciation was triggered by heavy foreign capital inflow.

"We keep monitoring data of (foreign capital) inflow so that rupiah does not appreciate too fast. BI has intervened to smooth out fluctuation," he said.

He also said that weakening dollar also triggered almost all Asian currencies to appreciate.

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