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ANZ economists say the rupiah has traded relatively well, supported by a strong trade surplus driven by high commodity prices and attractive real yields. They expect the undervaluation to narrow gradually as carry demand grows and Indonesia nears its first annual current account surplus since 2011.
A firmer rupiah would lower Indonesian import costs for feed raw materials, while strong commodity export earnings support the currency.
octaafrica.netSep 29, 2021Not 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.
