Indonesian Finance Minister Sri Mulyani Indrawati speaks during the 10th ASEAN finance ministers and central bank governors meeting in Jakarta, Indonesia, August 25, 2023. REUTERS/Willy Kurniawan/File PhotoLONDON : The volatility in foreign currency markets over the last month needs to be monitored and carefully managed Indonesia's finance minister said on Tuesday.
The gyrations in FX markets were linked to higher-for-longer U.S. interest rates that were sucking capital out of emerging markets like a"vacuum cleaner", said Sri Mulyani Indrawati, speaking at an event at the Asia House think tank in London.Indonesia's rupiah recently hit its lowest level since the COVID-19-triggered global market selloff of early 2020.
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