The Indonesian rupiah traded about flat today despite yet another interest rate cut from the nation’s central bank.
The Bank Indonesia cut interest rates today, including the benchmark 7-day reverse repo rate, which was reduced by 25 basis points to 5.25%. The bank cut rates for the third month in a row. And analysts expect at least one more cut by the year’s end.
USD/IDR was about unchanged at 14,060 as of 18:16 GMT today.
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