USD/IDR set to plunge to 14,500 by end-2023 – MUFG
|The Indonesian Rupiah was a surprise outperformer in January. Economists at MUFG Bank expect the USD/INR to stabilize in the short-term before moving to 14,500 by year-end.
Some near-term consolidation after strong January gains
“For USD/IDR, we see some near-term consolidation after strong January gains. Thereafter, we retain our view of the IDR making more inroads against the USD later this year.”
“We forecast USD/IDR at 14,500 by the end of 2023.”
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