USD/IDR Price News: Indonesian rupiah flirts with highs near 14,250 amid upbeat Consumer Confidence
|The latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, showed that the country’s Consumer Confidence Index improved further to 104.40 in May when compared to 101.5 booked in April.
The survey showed that the optimism continues to gain momentum amongst the consumers, in light of ebbing covid fears and vaccination drives in the country.
FX Implications
The USD/IDR pair wallows near multi-day lows of 14,250, as the Indonesian rupiah looks to benefit from strong local data. Subdued US dollar and the Treasury yields continue to remain a drag on the pair.
The spot was last seen trading at 14,252, almost unchanged on the day.
Related reads
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.