The rupiah fell as much as 1.6 per cent to 16,108 per dollar, the weakest level since April 2020.
- Bank Indonesia stepped in to support the rupiah after the currency weakened past 16,000 per US dollar for the first time in four years.
The rupiah fell as much as 1.6 per cent to 16,108 per US dollar on April 16, the weakest level since April 2020, as local markets reopened on April 16 after being shut since April 8 for the Eid al-Fitr holiday. The rupiah’s decline adds pressure on BI to maintain stability in the currency amid persistent US dollar strength and foreign capital outflows.
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