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Indonesia c.bank intervenes to smooth rupiah volatility in spot market

JAKARTA, Sept 2 (Reuters) - Indonesia’s central bank is intervening in the spot interbank foreign exchange market to smooth volatility in the rupiah exchange rate, Nanang Hendarsah, the bank’s head of monetary management told Reuters on Wednesday.

The rupiah dropped as much as 1.5% on Wednesday, trading at 14,770 a dollar at 0242 GMT.

President Joko Widodo on Tuesday pledged the central bank would remain independent after a panel of experts advising parliament recommended amendments to the central bank act that could weaken its independence. (Reporting by Gayatri Suroyo; Additional reporting by Shashwat Awasthi; Editing by Tom Hogue)

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