# Indonesia central bank has been intervening to defend rupiah: governor  - The Business Times

> Indonesia's central bank governor said Bank Indonesia has been intervening in currency markets to defend the rupiah against pressure from expectations of further US rate hikes. He said he expects the rupiah to strengthen once uncertainty over US rates subsides.

- Date: 2023-02-28 · published 2023-02-28T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/37657-indonesia-central-bank-has-been-intervening-to-defend-rupiah-governor-the
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md)

## Why it matters

Central bank intervention limits near-term rupiah weakness, which keeps Indonesian import costs for feed ingredients more stable. The outlook depends on the path of US rates.

## Read by commodity

- USDIDR: neutral

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/international/asean/indonesia-central-bank-has-been-intervening-defend-rupiah-governor

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.