Bank Indonesia monitors rupiah amid market volatility, oil surge
Jakarta, Oct. 27 -- Bank Indonesia (BI) has reaffirmed its commitment to an active market presence to stabilize the rupiah, assuring investors that the central bank's current intervention strategy remains unchanged despite heightened volatility driven by escalating geopolitical conflict in the Middle East.
Speaking in Jakarta on Monday, BI Governor Destry Damayanti said rupiah exchange rate movements continue to be dictated by daily supply and demand dynamics.
Consequently, BI continues to closely observe exchange rate developments while identifying the factors driving these fluctuations.
"Yes, we (BI) remain in the market. It depends on the day's supply and demand dynamics; we are definitely keeping a close watch on its movements," De...
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