Jakarta, CNBC Indonesia- Head of Treasury & Financial Institution Bank Mega, Ralph Birger Poetiray assesses that Bank Indonesia’s triple intervention policy is complete enough to ensure Rupiah stability.
Apart from that, the addition of Export Proceeds Foreign Exchange (DHE) instruments and Bank Indonesia Rupiah Securities (SRBI) and the planned issuance of Bank Indonesia Foreign Exchange Securities (SVBI) and Bank Indonesia Foreign Currency Sukuk (SUVBI) are expected to be able to support the Rupiah.
Regarding interest rates, Birger also sees the potential for Bank Indonesia to raise the benchmark interest rate again, which is quite small as market concerns about the direction of the Fed’s policy which has narrated “higher for longer” has begun to subside.
What kind of ammunition does BI have to hold back the stability of the Rupiah? What is BI’s policy direction in dealing with market turmoil? For complete details, see Safrina Nasution’s review with Equity Analyst CNBC Indonesia research, Tasya Natalia Pangestika with Head of Treasury & Financial Institution Bank Mega, Ralph Birger Poetiray in Closing Bell,CNBCIndonesia (Monday, 11/20/2023)