Bank Indonesia (BI) has ensured it will continue to monitor the\nrupiah exchange rate in offshore or foreign markets whilst the domestic\nmarket is closed for a week during Nyepi and Eid al-Fitr, amid\npersisting high levels of global uncertainty resulting from Middle\nEastern tensions.<\/p>\n
BI Governor Perry Warjiyo has confirmed that BI will remain in the\nmarket, not only in the domestic market but also in offshore markets, to\nsafeguard rupiah exchange rate stability continuously.<\/p>\n
\u201cWe may take a holiday here for Lebaran, but the offshore\nNon-Deliverable Forward (NDF) market continues to operate and BI New\nYork will also continue to monitor the rupiah abroad,\u201d said Perry during\na press conference on BI\u2019s Recent Decision Group results held online in\nJakarta on Tuesday.<\/p>\n
Meanwhile, Senior Deputy Governor Destry Damayanti has also confirmed\nthat BI will remain vigilant and monitor the rupiah-dollar market\nthrough NDF around the clock.<\/p>\n
Although the domestic market is closed for Lebaran, BI is\ncoordinating with BI New York to continue monitoring and is prepared to\nintervene in the global NDF market if required.<\/p>\n
Amid very high volatility and uncertainty, Destry has ensured that BI\nremains focused on maintaining rupiah stability.<\/p>\n
\u201cWe will make all possible efforts, as also stated by the Governor,\nsuch as we usually do, with interventions in the spot, DNDF and NDF\nmarkets in the global marketplace,\u201d she said.<\/p>\n
Additionally, Destry noted that monetary operation instruments are\nalso being optimised to provide attractive yields, thereby continuing to\nsupport stability amid rising global risks.<\/p>\n
As an illustration, Destry noted that throughout March, the rupiah\ndepreciated by 1.29 per cent on a month-to-date (mtd) basis, lower than\nseveral regional currencies, such as the Indian rupee at 1.52 per cent\nand the Philippine peso at 3.71 per cent.<\/p>\n
\u201cThis means that we in this region are facing the same problems. But\nat Bank Indonesia, we will certainly continue to focus on maintaining\nthat stability,\u201d she said.<\/p>\n
She added that trading through local currency transactions (LCT)\ncontinues to increase. In February 2026, total LCT transactions reached\nUSD 4.12 billion, with the largest share being with China at USD 3.026\nbillion.<\/p>\n
This trend, Destry noted, demonstrates increasing demand for\ntransactions using currencies other than the dollar in Indonesia.<\/p>\n
BI is continuing to promote the deepening of the local currency\nfinancial market, such as the yuan (CNH\/CNY), so that market\nparticipants no longer need to purchase dollars to conduct\nconversions.<\/p>\n
\u201cThis will certainly also serve to reduce demand for dollars in the\ndomestic market, since the demand is directly for the currency of the\nrelevant partner country,\u201d said Destry.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/domestic-market-closed-bank-indonesia-continues-to-monitor-rupiah-in-offshore-market-1773751955", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }