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Indonesia central bank vows to guard rupiah against volatility
August 12, 2015 / 2:35 AM / 2 years ago

Indonesia central bank vows to guard rupiah against volatility

JAKARTA, Aug 12 (Reuters) - Indonesia’s central bank will guard the rupiah against volatility, a deputy governor told Reuters, after the currency fell more than one percent against the dollar on Wednesday to its lowest level since July 1998.

Senior Deputy Governor Mirza Adityaswara said the rupiah fell in line with other currencies because of China’s devaluation of the yuan, not because of Indonesia’s economic fundamentals.

“Bank Indonesia will always be in the foreign exchange market and bond market to guard against volatility and manage stability,” said Adityaswara.

The People’s Bank of China set the midpoint rate for yuan at its weakest guidance level since October 2012.

The rupiah was trading at 13,795 per dollar at 0224 GMT.

Reporting by Hidayat Setiaji; Writing by Gayatri Suroyo; Editing by Eric Meijer

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