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The rupiah rose 0.21% to 14,080 per dollar on June 24 but was expected to weaken again on June 25 as US stocks fell. The IMF cut its 2020 global growth forecast to minus 4.9% and projected Indonesia's economy to contract 0.3% this year.
Technical analysts said the rupiah had been consolidating around the 14,000 level.
The IMF's deeper global contraction forecast points to weaker demand and risk appetite, which tends to pressure emerging-market currencies and raise imported input costs for Indonesian feed producers.
cnbcindonesia.comPutu Agus PransuamitraJun 25, 2020Not 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.
