Bank Indonesia Committed To Guarding Rupiah In The Middle Of National Demonstrations

US and Rupiah dollars (Photo: dock. Antara)

JAKARTA - Bank Indonesia (BI) is committed to continuing to maintain exchange rate stability and adequacy of Rupiah liquidity in the market.

Head of the Monetary and Securities Management Department (DPMA) of Bank Indonesia Erwin Gunawan Hutapea said that his party will continue to be in the market to maintain exchange rate stability and adequate liquidity of the Rupiah.

"Bank Indonesia is in the market to ensure that the Rupiah Exchange Rate moves according to its fundamental value through a market mechanism that is going well," he said in his statement, Monday, September 1.

Erwin said Bank Indonesia continues to strengthen stabilization measures, including NDF interventions in the off-shore market and interventions in the domestic market through spot transactions, DNDF, and SBN in the secondary market.

In addition, he added that Bank Indonesia also maintains sufficient liquidity by opening liquidity access to banks through repo transactions, fx swap transactions and SBN purchases in the secondary market, as well as lending/financing facilities.