Indonesia gains ‘second line of defence’ from $60 billion Fed repo
Bank Indonesia secures repo with NY Fed to boost dollar liquidity and shore up rupiah
Indonesia’s central bank says it has reached a $60 billion repo agreement with the US Federal Reserve to ease dollar funding pressure in the country, after intervening in the foreign exchange market to stabilise the rupiah.
The Indonesian government also sought to raise dollar funding by issuing dollar-denominated bonds, including 50-year tenor debt securities – the longest-dated US dollar bond in Asia. The dollar bond sale is aimed at fighting the coronavirus, Indonesia’s finance minister says
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