IDR: BI Says It Let Rupiah Strengthen As USD/IDR Approaches 15,000
Sep-20 08:17
Spot USD/IDR finished the session -88 pips at 15,150, printing its worst levels since mid-2023 in the overnight session. The key bearish target is provided by the psychologically significant 15,000 threshold. 1-month NDFs trade -35 at 15,170 as teh 15,000 figure is clearly in sight.
- Bank Indonesia's Executive Director for Monetary Management Edi Susianto said that the central bank was letting the rupiah appreciate and refrained intervening today. He commented that the rupiah was strengthening in line with regional peers, following the Fed's 50bp cut and BI's 25bp cut earlier this week. According to Susianto, Bank Indonesia believes that current USD/IDR volatility is manageable.
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US OUTLOOK/OPINION: Preliminary Payrolls Revision To Be Taken With Caution
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