1. Bank Indonesia, the central bank, floated the currency after failing to keep it within a fixed trading range by raising interest rates and buying rupiah. 2. Bank Indonesia, the central bank, floated the currency after failing to keep it within a fixed trading range yesterday by raising interest rates and buying rupiah. 3. The decline has been exacerbated by the fact that few companies or investors have been willing to buy rupiah in the prevailing climate of uncertainty. 4. The Indonesian rupiah surged after the announcement, as Bank Indonesia bought rupiah from offshore banks, currency traders said. 5. To maintain that rate, Indonesia would sell dollars, buy rupiah and raise interest rates as high as necessary to maintain that rate. 6. Today, state banks were selling the dollar to buy the rupiah, Chan said. 7. Traders said earlier that Bank Indonesia, the central bank, was also buying the rupiah. 8. Foreign exchange dealers said foreign investors bought rupiahs so they could pay for shares on the Jakarta exchange. 9. He also urged local businesses to sell dollars and buy rupiahs. 10. He also called on local businesses to sell dollars and buy rupiahs. |