Indonesia's Central Bank to Aggressively Intervene in Forex Markets

Indonesia's central bank announced plans for aggressive intervention in the domestic foreign exchange markets when they reopen after a regional holiday. This includes actions in the spot, non-deliverable forward, and secondary bond markets, following earlier offshore interventions in Asia, Europe, and New York.

Indonesia's central bank revealed on Monday its strategy to 'intervene aggressively' in the foreign exchange markets when trading resumes on Tuesday, following an extended break in the region's largest economy.

The intervention is planned across the spot and non-deliverable forward markets, as well as secondary bond markets.

Officials declared that prior actions have already been taken in offshore markets, including those in Asia, Europe, and New York, showcasing a comprehensive approach to stabilizing the rupiah.

(With inputs from agencies.)