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Economists at MUFG Bank said the rupiah gained against the dollar in March, supported by a resilient current account. They forecast USD/IDR at 15,000 by the end of the second quarter and 14,400 by early 2024, and expect portfolio inflows as Bank Indonesia holds policy steady.
A stable current account and expected portfolio inflows support the rupiah, lowering the local cost of imported feed ingredients. The forecast implies gradual rupiah appreciation, though it depends on commodity prices holding up.
teletrade.orgApr 6, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
