Bank Indonesia’s Warijyo: Committed to stabilize financial markets amid coronavirus, USD/IDR off lows

Dhwani Mehta FXStreet

Addressing a scheduled press conference on Wednesday, Bank Indonesia’s Governor Warijyo said that they remain committed to stabilizing financial markets amid coronavirus rapid spread.

Further comments

Recalculating GDP growth forecast for 2020 after wider spread of coronavirus globally.

New 2020 GDP growth likely below the previous forecast of 5.1%-5.2%.

YTD net capital outflows at 40.16 trillion rupiah, mostly from bond market.

Bought around 130 trillion rupiah of govt bonds in stabilisation measure.

USD/IDR reaction

USD/IDR has moved off the session low of 14,288 to now trade near 14,340 levels, almost unchanged on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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