Indonesia forex reserves give 'pretty good coverage' for rupiah
International Monetary Fund
Jakarta - SPA
The level of Bank Indonesia's foreign exchange reserves provides 'pretty good coverage' to support the weakening rupiah currency, Christine Lagarde, the managing director of the International Monetary Fund (IMF), said on Wednesday, according to Reuters.
Indonesia's forex reserves stood at $107.6 billion by the end of July. The rupiah is emerging as Asia's second-worst performing currency this year, having fallen 12 percent so far against the dollar.
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