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Rupiah corrects towards 14,400 post-Indonesian Consumer Confidence

9 March 2022
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The latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, showed that the country’s Consumer Confidence Index deteriorated to 113.1 in February when compared to 119.6 booked in January.

FX Implications

The USD/IDR pair is recovering losses following the deterioration in Indonesian consumer confidence. The spot tumbled to multi-day lows of 14,350, although staged a quick comeback to 14,380 on the data release. The pair is losing 0.09% on the day.

Read: USD/IDR: Scope for further upside near term – UOB

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