Depending on the Central Bank
The rupiah is still under pressure at Rp12,000 to the US dollar. Bank Indonesia, the country’s central bank, is suspected of not intervening on an all-out basis in the market because foreign currency reserves have fallen sharply.
March 3, 2009
THE dealing room of PT Bank Resona Perdania, on Thursday last week, appeared to be really busy. Dealers were sitting, enclosed by an enormous desk, seemingly bent over like rectangles, all with serious expressions on their faces as they watched television screens and computer monitors. Occasionally, some of them lifted up their telephones and spoke with clients from this room that is surrounded by glass 2 meters high. “The rupiah is still incli
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