USD/IDR Price News: Indonesian rupiah off three-week lows despite poor Retail Sales
|Indonesia's Retail Sales slumped 16.3% on the year in November vs. 14.9% drop seen in October, the latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, released on Tuesday.
Sales of telecommunication equipments and other household goods contracted in November, which collaborated with the slump in the Retail Sales.
The Bank Indonesia survey foresees a deeper contraction of 20.7% YoY in the sales in December, Reuters reports.
FX implications
The Indonesian rupiah (IDR) trims losses against the US dollar despite a slump in Indonesia’s Retail Sales.
At the press time, USD/IDR trades at 14,172, up 0.66% on a daily basis, having retreated from three-week highs of 14,207.
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