Indonesia central bank “in the market” to guard the rupiah – official

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JAKARTA, Aug 15 (Reuters) – Indonesia central bank “is in the market” guarding the rupiah, a senior official told Reuters, as the currency continues to tumble amid emerging market selloffs.

Nanang Hendarsah, Bank Indonesia’s (BI) head of monetary management, also said the central bank will begin to regularise its foreign exchange swap with banks in a bid to reduce currency hedging costs.

The rupiah hit a fresh low on Wednesday of 14,635 a dollar, its weakest since October 2015. The central bank is due to announce a policy decision later on Wednesday. (Reporting by Tabita Diela, writing by Gayatri Suroyo Editing by Eric Meijer)

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