Bank Indonesia takes precautions to keep rupiah’s decline orderly

Indonesia’s central bank is gradually closing trading loopholes used by global investors in an attempt to exert more control over its weakening currency and prevent a desirable depreciation of the rupiah from turning into a panicky tailspin.

Last week, it reminded domestic banks they are not allowed to dabble in offshore rupiah forward markets. It told them it wants an improvement in onshore trading volume. And it said it will specify the hours during which banks can quote exchange rates for the rupiah.

via Business feed http://www.scmp.com/business/economy/article/1150125/bank-indonesia-takes-precautions-keep-rupiahs-decline-orderly