Indonesia and India intervene to support their weakening local currencies
Show original
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
A welcome pack worth 6200 USDT for new users! Sign up now!
Golden Ten Data reported on May 29 that on Friday, Indonesia and India took intervention measures to support their own currencies; currently, both currencies are facing downward pressure due to soaring energy prices. Despite the authorities selling foreign exchange, the Indonesian rupiah still fell 0.5% against the US dollar. The Indian rupee rose 0.7% on Friday, ending a previous two-day decline. So far this year, the Indonesian rupiah has depreciated 7% against the US dollar, ranking first among emerging market currencies; the Indian rupee has fallen 5.7%. In a statement on Friday, the Bank of Indonesia said that it will continue its commitment to ensure the rupiah's "around-the-clock and worldwide" exchange rate stability through interventions in the spot foreign-exchange market, non-deliverable forward (NDF) operations, and the purchase of government bonds. Meanwhile, according to informed traders, the Reserve Bank of India sold US dollars in both offshore and onshore markets to support the rupee exchange rate. In the past few days, the Reserve Bank of India has been intervening in the market to support the rupee.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!
You may also like
Aareal Bank partners with TCS on long-term IT sourcing and infrastructure services deal
Reuters•2026/09/15 09:02
Bank Victoria sets IDR 15.47 billion interest payment for Sept. 28, 2026
Reuters•2026/09/15 09:02
Market Chatter: Apollo Global Management's Michaels Uses $101 Million Tariff Refund to Repurchase Debt
MT newswire•2026/09/15 09:01
HawkEye 360 Enters MoU with Leonardo, Strategic Partnership With ERA
MT newswire•2026/09/15 08:59
Crypto prices
MoreBitcoin
BTC
$76,889.7
-0.99%
Ethereum
ETH
$2,473.09
-1.64%
Tether USDt
USDT
$0.9997
+0.02%
BNB
BNB
$716.79
-0.94%
XRP
XRP
$1.4
+0.71%
USDC
USDC
$0.9998
+0.02%
Solana
SOL
$100.59
-0.88%
TRON
TRX
$0.3377
-0.72%
Hyperliquid
HYPE
$78.87
-1.07%
Zcash
ZEC
$1,142.02
+0.43%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now