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.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
