USD/IDR Price News: Rupiah sits at multi-month tops of 14,065 despite mixed Indonesian trade data
|According to the latest trade data published by the Indonesian Statistics Bureau, the country recorded a bigger-than-expected trade surplus in September, although both imports and exports disappointed.
Indonesia reported a trade surplus of $4.37 billion vs. $3.84 billion expected and $4.74 billion previous. The imports and exports came in at 40.31% and 47.64% respectively vs. 50% and 51.57% expectations and 55.26% and 64.1% respective priors.
FX implications
USD/IDR trades close to eight-month lows of 14,065 on mixed Trade Balance data. The cross loses 0.27% on a daily basis.
About Indonesia’s Trade Balance
The Trade Balance released by Statistics Indonesia is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. If a steady demand in exchange for Indonesian exports is seen, the Rupiah will receive a positive (or bullish) effect, while a low reading is seen as negative (or bearish).
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