By Gayatri Suroyo and Ananda Teresia JAKARTA, May 20 (Reuters) - Indonesia's central bank raised its policy interest rates by a larger-than-expected 50 basis points at a policy review on Wednesday, as it works to support the rupiah currency which has fallen to a series of record lows in recent days.

Indonesia is tightening state control over its globally important natural resources, with new regulations requiring that state-owned enterprises handle exports of key commodities like palm oil, coal and iron alloys.