# Bank Indonesia to intervene in FX, buy bonds 'massively' to support Rupiah — Octa

> Bank Indonesia's Head of Monetary Management Nanang Hendarsah said the central bank would intervene in FX and domestic NDF markets and buy government bonds heavily to maintain confidence. The rupiah recovered from three-month lows and traded near 14,330 per dollar. He warned that every emerging-market currency faced heavy pressure that day.

- Date: 2019-08-06 · published 2019-08-06T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/57899-bank-indonesia-to-intervene-in-fx-buy-bonds-massively-to-support-rupiah-octa
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Heavy emerging-market currency pressure raises the local cost of imported feed ingredients for Indonesian buyers. Central bank intervention may limit near-term depreciation but does not remove the cost pressure.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-09-22 | [China’s yuan bounces on state bank support, offshore tightness - Markets - Business Recorder](https://feedsoft.ai/events/34329-china-s-yuan-bounces-on-state-bank-support-offshore-tightness-markets-business.md) | -0.1% | +0.1% |
| USDCNY | 2018-10-30 | [Major Chinese banks seen swapping yuan for dollars in forwards: traders \| Reuters](https://feedsoft.ai/events/62767-major-chinese-banks-seen-swapping-yuan-for-dollars-in-forwards-traders-reuters.md) | -0.5% | -0.1% |
| USDCNY | 2017-04-20 | [Chinese yuan likely to remain relatively steady in Q2, says Scotiabank \| EconoTimes](https://feedsoft.ai/events/71715-chinese-yuan-likely-to-remain-relatively-steady-in-q2-says-scotiabank-econotimes.md) | +0.1% | -0.1% |
| USDCNY | 2021-03-30 | [Asia's emerging FX hit by rising dollar; Indonesia, Philippine stocks fall 1% \| Financial Post](https://feedsoft.ai/events/48392-asia-s-emerging-fx-hit-by-rising-dollar-indonesia-philippine-stocks-fall-1.md) | -0.1% | -1.3% |
| USDCNY | 2021-01-26 | [Chinese Yuan Outlook: Tightening Measures From China’s Central Bank Sends A Warning Shot To Risk Markets](https://feedsoft.ai/events/49363-chinese-yuan-outlook-tightening-measures-from-china-s-central-bank-sends-a.md) | -0.2% | -0.2% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/733424/

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