Indonesia considers whether more steps needed to support rupiah

Indonesia’s finance minister says authorities are assessing global developments that triggered a rally in the dollar to determine whether they need to take further steps to halt outflows which have pummelled the rupiah. (AFP pic)

JAKARTA: Indonesian authorities are assessing global developments that triggered a rally in the dollar to determine whether they need to take further steps to halt outflows which have pummelled the rupiah, the finance minister said on Friday.

“For our economy, we see that these (global) dynamics must be addressed and the measures by the government, Bank Indonesia or the Financial Services Authorities, whether they need to be expanded because the dynamics have changed and are getting stronger,” Minister Sri Mulyani Indrawati told reporters in the sideline of an economic event.

The rupiah has been under renewed pressure this week after global oil prices rose. The currency, which lost nearly 2% to trade at its weakest levels in over 20 years this week, traded at 15,180 a dollar at 0415GMT Friday.