JAKARTA: Bank Indonesia said it is ready to act to stabilize the rupiah in the face of excessive volatility, as Donald Trump’s early lead in the US presidential race spurs dollar strength.

“BI will always monitor the exchange rate movement of the rupee and other currencies, and will certainly make various efforts to stabilize the exchange rate if there is an excessive increase in volatility,” said Fitra Jusdiman, its head of monetary and asset management. of values. in a mobile phone message on Wednesday (Nov. 6).

The central bank will deploy its so-called triple intervention, targeting spot foreign exchange markets, domestic non-deliverable term and secondary government bond markets, he added.

The rupee plunged 0.6% on Wednesday morning to 15,828 against the US dollar, its weakest level in almost three months. Jusdiman said the depreciation is “relatively in line” with forecasts and the movement of most Asian currencies as Trump leads the vote count.

“BI has anticipated several scenarios of the US presidential election results and has also prepared mitigations for their potential impacts,” he said. -Bloomberg