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.

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.

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.