"As of yesterday we have changed the way of our intervention. Before we intervened through currency market but as of yesterday we also intervened through the SUN market," he said here on Friday.
He said the efforts proved effective to calm the market as shown by the increasing rate of the rupiah on Thursday (Sept 22) to Rp8,760 against the US dollar from Rp8,860 before.
On Friday morning it strengthened again and was opened at Rp8,670 per dollar.
"How much people would sell, so long as the price is reasonable, Bank Indonesia will buy. So, do not try to speculate. This morning we did not conduct an auction but we conducted bilateral purchases and also intervened in the market. In the afternoon later we will open an auction and will buy any dollar sold," he said.
He said with the intervention in the currently and SUN markets situation has been calmer although global pressure has remained but not as strong as three or four days ago.
"With our steps more focused, more complete I believe we have been able to make the situation calmer," he said.
Darmin said BI`s intervention was also aimed at assuring the market so that it would not worry much because the rupiah would not fall far deeper from the previous one.
"If the trend would not stop we would continue buying. We would continue buying to make it more liquid and if you follow it until the close this afternoon the share index has actually started to be on the positive territory despite continued pressure," he said.
Regarding the country`s foreign exchange reserves Darmin said the total was still more than enough but he declined to tell the latest position.
"I need not explain it in detail now. Later we will explain that the foreign exchange reserves are more than enough for intervention to control the rupian exchange rate. The reserves would only be used if we need it. If we can increase it we will increase it. So we must not be fixeted on its total," he said.
(Uu.H-YH/HAJM/O001)
Editor: Priyambodo RH
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