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The currency reserves of Indonesia have been declining for seven months in a row due to the fall of the national currency and the outflow of capital. In August, the country's currency reserves fell to the lowest level since January 2017 of $117 billion 900 million, according to the Bank of Indonesia. The Indonesian rupiah has fallen in price since the beginning of the year by 8.5%. Its rate against the US dollar fell by 0.3% on Friday and amounted to 71.74 rupees against one US dollar. To curb inflation and the fall of the national currency, the Bank of Indonesia conducted a number of interventions in the foreign exchange market and, analysts expect, could raise the key interest rate in the end of September for the fifth time this year.
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Intel Corp. (INTC.O) announced on Monday that Chief Engineering Officer Murthy Renduchintala would leave the company on August 3. The semiconductor manufacturing company said that it would reorganize its technology, systems architecture, and ...
Indonesia on Tuesday imposed a 10% VAT on products by technology firms including Amazon, Netflix, Spotify, and Google as lockdowns forced a surge in spending patterns as well as remote working, which has hit state finances. The Southeast Asian ...
The Federal Reserve’s balance sheet shrank for the second time in two weeks as central banks reduced their use of currency swaps while US banks continued to cut their use of Fed repurchase agreements. From $7.14 trillion a week earlier, ...
Bank Indonesia on Thursday has decided to cut its benchmark rate for the third time this year with signals that it may ease further. The central bank of SouthEast Asia’s largest economy will cut the 7-day reverse repurchase rate by 25 ...
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