FxWirePro: USD/IDR spikes above 13800, BI in markets to support Rupiah
Wednesday, August 12, 2015 5:12 AM UTC
- USD/IDR surges above 13800 as traders cited Bank of Indonesia in the markets to support Rupiah
- IB pinned the rupiah's fall directly on the yuan devaluation and said it would step into the markets to guard against volatility
- Yields soar, 5yr yields +10bps, 10yr and above up 20bps last, JKSE -3.14%
- USD/IDR is currently trading at 13838, paring some gains after hitting 13878, highest since Sept 1998
- Further gains likely, NDFs indicated at 14070-14120, strong buying seen from hedge funds
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