Learn why the rupiah has recovered against the Singapore dollar, and why analysts believe the relief may be short-lived due to persistent economic pressures. Read more at straitstimes.com. Read more at straitstimes.com.

In a statement, the central bank said this was also a "pre-emptive measure" to maintain inflation within the government's target range of 1.5% to 3.5%.

By Ying Xian Wong and Fabiana Negrin Ochoa