February 12, 2019 / 11:47 AM / 6 months ago

Indonesia c.banks to add 3-month contracts to onshore NDF auctions

JAKARTA, Feb 12 (Reuters) -

* Indonesia’s central bank on Wednesday will start offering 3-month contracts during its auctions of domestic non-deliverable forward (NDF), head of monetary management Nanang Hendarsah said

* Bank Indonesia currently only offers 1-month contracts on its routinely conducted auctions

* The additional contract is aimed at improving price discovery for the 3-month domestic NDF and improve liquidity for the longer tenor

* Bank Indonesia launched the domestic NDF market last year to help reduce volatility the rupiah which was highly affected by NDF markets in places like Singapore. (Reporting by Gayatri Suroyo; Editing by Nick Macfie)

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