BI Survey: Indonesia's retail sales rise 0.7% y/y in September, Rupiah keeps lows

Dhwani Mehta FXStreet

According to the latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, released on Wednesday, Indonesia's retail sales grew 0.7% on the year in September vs. a 1.1% rise seen in August.

The survey also predicted retail sales would rise 2.9% on an annual basis in October, Reuters reports.

Retail sales were mainly driven by automotive spare parts and accessories as well as other household goods.

Amid slower pace of growth in the domestic retail sales and sluggish Q3 GDP growth momentum, the Indonesian Rupiah (IDR) remains on the offers, with USD/IDR now looking to regain the 14k handle, up +0.21% on the day.

The spot is on the road to recovery from two-month lows of 13,967.50 reached on Tuesday, as markets ignored downbeat Indonesian growth figures.

Indonesian Vice FinMin: Govt to continue to support economic growth momentum after sluggish Q3 GDP

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.

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