Rupiah stability in focus as Bank Indonesia eases requirements
Central bank likely to wait for the Fed’s rate decision before cutting main rate
The Indonesian rupiah’s stability has been made a high priority by the country’s central bank when making monetary policies, analysts said, after the central bank eased one policy measure.
Bank Indonesia (BI) has cut reserve requirements for conventional and Islamic banks by 50 basis points to 6% and 4.5%, respectively, while leaving the key seven-day reverse repo rate unchanged at 6%, it said in a statement on June 20.
“In general, rupiah exchange rate stability has been maintained,” the
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