KONTAN.CO.ID - JAKARTA. Indonesia's central bank has intervened in the spot currency, domestic non-deliverable forward (DNDF) and bond markets amid outflows related to fears of the spread of COVID-19 in South Korea, an official told Reuters on Monday. The rupiah fell by 0.9% as of 0331 GMT, the weakest since Jan. 8 and the biggest intraday fall in nearly a year. The main stock index fell more than 1%, while yields of government bonds with 1 year- and 3 year-tenure rose. "There are outflows in the bond (market) and banks are short covering," Nanang Hendarsah, Bank Indonesia's head of monetary management said by text message.
Indonesia c.bank intervenes in FX, bond markets amid capital outflows
KONTAN.CO.ID - JAKARTA. Indonesia's central bank has intervened in the spot currency, domestic non-deliverable forward (DNDF) and bond markets amid outflows related to fears of the spread of COVID-19 in South Korea, an official told Reuters on Monday. The rupiah fell by 0.9% as of 0331 GMT, the weakest since Jan. 8 and the biggest intraday fall in nearly a year. The main stock index fell more than 1%, while yields of government bonds with 1 year- and 3 year-tenure rose. "There are outflows in the bond (market) and banks are short covering," Nanang Hendarsah, Bank Indonesia's head of monetary management said by text message.