S'pore denies meeting on rupiah

S'pore denies meeting on rupiah

SINGAPORE (Reuters): The Monetary Authority of Singapore (MAS) denied rumors yesterday that it was due to meet banks to discuss trading in the Indonesian rupiah.

An MAS spokesman told Reuters by telephone: "That's not true."

There were rumors on foreign exchange markets earlier on Friday that Singapore's de facto central bank had called in local banks to discuss the rupiah and the settlement of trades in the currency.

Indonesian central bank Bank Indonesia announced earlier it was not doing any clearing yesterday because of three days of violence in the capital, Jakarta. Clearing would resume on Monday if the situation improved, an official said.