USD/IDR: Next target for the Rupiah bears will be March 2020 high of 16,625 – SocGen
The Indonesian Rupiah is the worst-performing currency in Asia this month. Economists at Société Générale analyze IDR outlook.
BI to stand pat at 5.75%
We expect Bank Indonesia to stand pat at 5.75%. Headline inflation has slowed to 2.3% (BI target 2-4%), but the central bank has abstained from policy easing due to IDR weakness. Our house view is that the next rate move will be a cut in 1Q24 or later.
The Rupiah has weakened to a level last seen during the peak pandemic as USD/IDR breached the December 2022 high of 15,770 and next target for the Rupiah bears will be March 2020 high of 16,625.
Reprinted from FXStreet_id,the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.