JAKARTA, June 14 Reuters Indonesia39;s central bank intervened in the foreign exchange market to defend the rupiah, its governor said on Friday, vowing to use monetary policy to stabilise the currency after it fell

to over fouryear lows against the dollar.

The rupiah skidded 0.9 to 16,415 per dollar in afternoon trade, the lowest level since April 2020, before paring some of those losses.

Bank Indonesia BI Governor Perry Warjiyo told reporters the central bank intervened in the foreign exchange market and used other measures to stabilise the currency. He didn39;t disclose when the bank intervened, but hinted that it had occurred during the day.

Warjiyo said the rupiah was stable and that the depreciation rate was less than other emerging market currencies such as the Thai baht and South Korean won.

We continue the measures to stabilise rupiah. We have done a lot, whether through intervention, attracting foreign inflows…and everything have gone well he said.

BI in April delivered a surprise interest rate hike in response to a sharp drop in the rupiah exchange rate.

The latest decline in the currency does not mean it will hike again at its next policy review on June 1920, but it made BI less likely to pivot to monetary easing moves anytime soon, said Josua Pardede, Bank Permata economist.

The central bank has raised interest rates by a total of 275 basis points since mid2022.

BI39;s head of monetary management Edi Susianto said Friday39;s rupiah drop was linked…