JAKARTA, June 4 (Xinhua) -- Indonesia has allocated 8 trillion rupiah (about 443 million U.S. dollars) to support government bond market stabilization amid pressure on the rupiah exchange rate, Finance Minister Purbaya Yudhi Sadewa said on Thursday.
The funds will help Bank Indonesia maintain market stability through interventions in the government bond market, including the repurchase of state securities sold by foreign investors.
"We have maybe around 8 trillion rupiah to support market stabilization," Purbaya said at the parliament complex in Jakarta, describing the measure as part of coordination between fiscal and monetary authorities.
The move came as the rupiah faces depreciation pressure against the U.S. dollar, prompting policymakers to step up efforts to preserve financial market stability and investor confidence.
The government said it would continue coordinating with Bank Indonesia to manage market volatility and safeguard the country's economic fundamentals amid global financial uncertainty. ■