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Indonesia hikes key interest rate to 6.25% as rupiah slumps

Central bank to continue interventions to maintain currency stability

A clerk prepares Indonesian rupiah bank notes at a money-changer in Jakarta.   © Reuters

JAKARTA -- Indonesia's central bank raised its benchmark interest rate by 25 basis points to 6.25% on Wednesday as it tries to shore up the weak rupiah.

"This interest rate increase is [meant] to strengthen the stability of the rupiah exchange rate from the impact of worsening global risks," Bank Indonesia Gov. Perry Warjiyo told reporters at a news conference on Wednesday.

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