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Economy

Indonesia's Widodo defends falling currency in unconventional ways

Jakarta plans measures to curb imports of fuel and construction materials

Indonesian President Joko Widodo is trying to suppress some imports in order to keep foreign currency reserves in the country.    © Reuters

JAKARTA -- Indonesian President Joko Widodo is deploying series of defensive tactics -- some rather unconventional ones -- to prevent the sell-off of the country's currency, the rupiah, in financial markets.

He has already ordered one measure to boost the consumption of locally produced palm-oil biodiesel fuels to push out imported fuels and is reportedly considering cutting back on his signature infrastructure projects to suppress imports of construction materials.

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