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Market Chatter: Indonesia Injects IDR8 Trillion Into Bond Market to Support Rupiah

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The Indonesian government has injected 8 trillion rupiah into the domestic bond market in an effort to stabilize the local currency, The Jakarta Globe reported Thursday, citing Finance Minister Purbaya Sadewa.

As of 3:59 a.m. ET on Friday, USD/IDR was at 18,036, according to Bloomberg data.

Purbaya said the intervention was aimed at maintaining investor confidence and supporting demand for government bonds, which could help attract foreign capital and strengthen the currency. Despite the rupiah's decline, Purbaya said the impact on government finances remains manageable, although debt repayments denominated in foreign currencies will become more expensive in rupiah terms.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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