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Bank Indonesia Shifts FX Intervention: Reduces Spot Market Operations, Focuses on NDF Market
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The Governor of Bank Indonesia announced that the central bank has reduced its foreign exchange intervention in the spot market and is now concentrating its efforts on the non-deliverable forward (NDF) market. This strategic shift in foreign exchange policy aims to manage the rupiah's exchange rate more effectively, likely by targeting offshore market dynamics where NDFs are commonly traded. The move reflects a change in the central bank's operational tactics to stabilize the currency without directly depleting spot market reserves. The announcement was reported by financial news outlet Jin10, citing the governor's statement.
Source report
The Governor of Bank Indonesia has announced that the central bank has reduced its foreign exchange intervention in the spot market, and is now concentrating its efforts on the non-deliverable forward (NDF) market.
Source
金十数据Neutral / independent