Bank Indonesia to boost rupiah

Bank Indonesia governor Burhanuddin Abdullah said Tuesday 5 July that the central bank will lend state-owned oil company Pertamina money to fund oil imports as part of efforts to support the rupiah exchange rate.

"(Due to) an increase in U.S. dollar demand by Pertamina, the government temporarily and effective immediately will supply Pertamina's dollar needs directly," Abdullah told a news conference. "These funds will come from the government's account ... and with this new mechanism, Pertami