Indonesia central bank says “plenty” of FX offers after rupiah falls

JAKARTA: Indonesia’s central bank sees plenty of foreign exchange offers in the market, the head of its money management department, Edi Susianto, told Reuters, even as the rupiah fell around 0.7 percent in early trade on Monday.

“I see that in the market so far, although (the rupiah) is weakening, supply remains plentiful,” he said in a text message.

“We continue to monitor. (Bank Indonesia) will be in the market when (there are) unequal market mechanisms or bids/offers (are) uneven,” he added, noting that the rupiah’s decline was a reaction to the high US inflation.