Philippine, Indonesian central banks seen supporting currencies

Posted at 02/05/2010 11:21 AM | Updated as of 02/05/2010 11:21 AM

SINGAPORE - Central banks in Indonesia and the Philippines intervened on Friday to support their sliding currencies as the US dollar rose on jitters about sovereign debt problems in Europe, traders said.

The high-yielding Indonesian rupiah fell as far as 9,410 per dollar -- down 1% from Thursday's close.

"BI (the central bank) is interferring in the market just to stabilize the rupiah -- they are selling dollars at 9,410," said a trader in Jakarta.

The Philippine peso shed 0.8% to 46.53 per dollar.

"We suspect the central bank was selling dollars at today's high," said a trader in Manila. 


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