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Indonesia's recent removal of intervention bands around its currency, the rupiah, may be reversed once Southeast Asia's currency turmoil has settled, said J. Soedradjad Djiwandono, governor of Bank Indonesia, the central bank. The freeing of the rupiah was a reaction to the depreciation of the Thai baht. "We were almost forced by the latest developments to lift the band," he said, explaining that the rupiah would have suffered if Indonesia remained the only regional market with foreign exchange restrictions. "We were open to attack," he said. In addition to freeing the rupiah, Indonesia responded by raising interest rates and tightening liquidity. "High interest rates can't last," he noted, adding the central bank has begun to slowly reduce them. Nevertheless, Djiwandono said that once the situation calms, the government will consider restoring a trading band for the rupiah if it will help exporters. "We're very pragmatic," he explained.