Indonesia Intervenes in Bond Market as Rupiah Hits Record Lows
Finance Minister Purbaya Yudhi Sadewa has ordered the ministry to spend 2 trillion rupiah daily to stabilize the bond market after the currency breached 17,800 per US dollar. Despite the depreciation, the government has ruled out a state budget recalibration and the National Food Agency is maintaining stabilized rice prices to curb inflation. While President Prabowo and the Finance Minister maintain that economic fundamentals remain strong, some experts attribute the volatility to governance issues surrounding free meal programs. The government's confidence contrasts with sharp declines in Indonesian stocks and repeated central bank interventions to prevent further currency collapse.
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Expert Cites Free Meal Governance as Rupiah Breaches 17,870 per US Dollar - News En.tempo.co
Ibrahim predicted that the rupiah ... market on national holidays. "In today's trading, the rupiah is likely to weaken by 100 points to the level of Rp17,900 per US dollar," he stated. Minister of Finance Purbaya Yudhi Sadewa stated that the current depreciation of the ...
Jakarta. Finance Minister Purbaya Yudhi Sadewa said he was “stressed” by the rupiah’s sharp depreciation after the currency briefly weakened to around Rp 17,848 against the US dollar, although he insisted the government remains confident in the country’s economic fundamentals.
Indonesia’s rupiah sinks to record low as Prabowo shrugs off rout fears | South China Morning Post
The rupiah is like this, the dollar is like this. Villagers don’t use dollars,” he said. “The ones who are having a headache are those who like to travel abroad.” · Prabowo declared that Indonesia’s “economy and fundamentals are strong”, adding there was nothing to worry about “as long as [Finance Minister...
Indonesia finance ministry to begin bond market intervention to stabilise prices — TradingView News
Indonesia Finance Minister Purbaya Yudhi Sadewa has ordered his ministry to spend 2 trillion rupiah ($113.19 million) per day to intervene in the bond market starting this week in an effort to stabilise prices, he said late on Monday.He did not elaborate on the mechanism, nor the objective of ...
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