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.