Indonesia's central bank said the rupiah's fall against U.S. dollar was still under control, after the currency slid to its weakest level in more than six months on Thursday following a surprise cut in interest rates the day before.

On the day, however, most Asian currencies found support as the dollar retreated after cooling US inflation data knocked down bond yields and increased the likelihood of more than just one Federal Reserve rate cut this year.

JAKARTA : Indonesia defied market expectations by cutting its key interest rate, moving to bolster economic growth even after the local currency’s recent slide beyond the key level of 16,000 to the dollar. Bank Indonesia (BI) lowered the benchmark BI-Rate by 25 basis points to 5.75% today.

Indonesia's central bank unexpectedly cut policy rates on Wednesday, resuming its monetary easing to prop up growth in Southeast Asia's largest economy despite financial market volatility that has sharply weakened the rupiah currency.

INDONESIA’S rupiah fell to its lowest in more than five months on Wednesday ahead of the central bank’s monetary policy decision later in the day, while the Thai baht stalled around a seven-week low as dollar remains dominant.

Indonesia's rupiah fell to its lowest in more than six months while stocks rose nearly 2%, after the central bank delivered a surprise rate cut.

Indonesia’s central bank caught markets off guard with a surprise rate cut, upending expectations that it would keep policy settings on hold to help stabilize the rupiah.