Indonesia FX Reserves Drop Further as BI Intervenes to Support Rupiah - UOB
UOB analysts note Indonesia's foreign exchange reserves declined in May as Bank Indonesia increased intervention to stabilize the weakening rupiah.
USDIDR
UOB economists Enrico Tanuwidjaja and Vincentius Ming Shen observed that Indonesia's foreign exchange reserves fell further in May. The decline comes as Bank Indonesia (BI) stepped up interventions to cushion the rupiah, which has weakened sharply. The analysts highlight that stability of the Indonesian rupiah now depends on tighter monetary policy from BI.
Source: FXStreet Forex News