Bank Indonesia has introduced a facility to swap its U.S. dollar holdings with Indonesian government bonds held by local foreign exchange banks, RTT News reports. The move is aimed at stabilizing the rupiah and government bonds. The swap will be carried out through auctions, where FX banks can request for one unit of foreign currency in exchange for their government bonds. The move comes after foreign investors dumped the country’s stocks on worries about the crisis in Europe and the U.S. and pressured the rupiah, adds XE.

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