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Rupiah steadies as President names Destry Damayanti for Bank Indonesia role

Rupiah is holding below 18,000 per USD, while bond yields have eased, giving analysts room for Bank Indonesia to keep rates unchanged this month.

Reported · Written up by our desk · Central Banks

Indonesia’s onshore markets have welcomed President Prabowo’s nomination of Deputy Governor Destry Damayanti as the next governor of Bank Indonesia, according to DBS Group Research as cited by FXStreet.

DBS Research said the appointment of an experienced, independent technocrat should help sustain confidence in Indonesia’s monetary framework.

FXStreet reports that the Rupiah has stabilized below 18,000 per USD, with bond yields easing. The note also suggests Bank Indonesia has scope to keep its rates unchanged in the current month.

Separate FXStreet market commentary noted the wider FX backdrop, including GBP/USD slipping below 1.3500 after renewed pressure, and EUR/USD trading near 1.1520 after a turn lower following Wall Street’s close, with attention on upcoming inflation data and related releases.

Latest closeEUR/USD 1.153 ▼0.2%|GBP/USD 1.349 ▼0.1%

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