Jakarta (Antara Bali) - The rupiah's value against the US dollar has over the past few weeks plummeted below acceptable limits, Bank Indonesia (BI) Governor Agus Martowardojo stated here on Wednesday.
"We see that the rupiah has fallen below acceptable limits, thus the currency is now undervalued," Martowardojo informed journalists.
In response to this trend, the central bank has been intervening in the market in an attempt to stabilize the rupiah's exchange rate against the greenback.
The BI authorities will continue to work with the government and other related parties to stabilize the rupiah, he noted.
Based on the rate set by BI in the Jakarta Interbank Spot Dollar Rate (JISDOR), the rupiah traded at Rp13,758 per US dollar during the Wednesday morning session, or weakened 217 points from a previous close of Rp13,541 on Tuesday. (WDY)
