Indonesia central bank intervenes to steady rupiah as virus fear unnerves markets

JAKARTA - Bank Indonesia intervened in spot foreign currency trading as well as domestic non-deliverable forward and bond markets on Monday to stabilize the rupiah, an official said, as the currency fell 0.5% to the weakest since mid-January.

“BI is boldly buying bonds in the secondary market and is offering DNDF through 8 brokers,” he said, adding that intervention was also done in a measured way in the spot FX market.fall in early trade to a drop in China's equities market, which plunged after reopening from a 10-day Lunar New Year holiday amid a rapidly spreading virus epidemic.and commodities markets in Shanghai slumped on Monday, on fears the coronavirus epidemic will hit demand in the world's second-largest economy.

Indonesia’s benchmark 10-year bond yield ID10YT=RR jumped to 6.701%, from the previous session’s close of 6.645%.fell 0.5% on Monday and is down 6.6% since mid-January, making it the second-worst performing in Southeast Asia after Manila so far this year.

(a lil louder now): capitalism is an inherently unstable system..!

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China central bank unexpectedly cuts reverse repo rates to help economy as virus spreadsChina's central bank unexpectedly lowered the interest rates on reverse rep... Ya very 'unexpectedly' 😂 😂 Still down 9%,imagine what would have happened if they had not intervened. If you have a single penny in China , you are a fool ! I mean really like a lunatic with a desire to humiliate themselves . Like someone who is allergic to peanuts and eats a whole jar of them !
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