RBI Intervention Sways Regional Currency Flows Amid Rupee Stabilization

The Reserve Bank of India (RBI) has taken steps to stabilize the Indian rupee by selling dollars through state-run banks and boosting foreign exchange reserves above $700 billion.

These measures have reinforced INR liquidity and may limit currency volatility regionally, potentially affecting the Indonesian rupiah and NZD/IDR flows.

NZD/IDR is trading at Rp10,461, down slightly for the day, and remains below its key moving averages, indicating near-term softness.

Technical indicators suggest continued downside pressure, with a 65% chance of weakness and only a 35% probability of a rebound in the short term.