BI Survey: Indonesia's Retail Sales drop 0.3% YoY in Jan, Rupiah off six-day low
|Indonesia's Retail Sales dropped by 0.3% on the year in January vs. a 0.5% drop seen in December, the latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, released on Tuesday.
The Bank Indonesia survey predicted sales in February to have remained weak, estimating a year-on-year drop of 1.9%, Reuters reports.
The total sales fell due to falling sales of clothes, auto parts and accessories.
FX Implications
The Indonesian Rupiah (IDR) reverses from a six-day low reached vs. the US dollar at 14,420 in the last hour, despite downbeat Indonesia’s Retail Sales data.
At the press time, the USD/IDR cross trades at 14,352, down 0.24% so far, flirting with daily lows of 14,349.50.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.