Central Banking

Indonesia c.bank sees firmer rupiah early in 2001

Indonesia's central bank on Thursday said it was confident the rupiah would strengthen to 8,000-8,500 against the dollar by early next year, but added the bank would continue to prop up the currency if necessary.

"The rupiah should be at 8,000 to 8,500...by January or February at the latest, I am quite confident of that," acting bank chief Anwar Nasution said to reporters.

He said the currency - which has fallen more than 25% this year - had taken a beating recently due to a central bank reshuffle

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