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USD/IDR Price News: Indonesian rupiah falls from three-month tops near 14,150 despite upbeat Consumer Confidence

The latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, showed that the country’s Consumer Confidence Index improved to 101.50 in April when compared to 93.4 booked in March.

The survey showed that the optimism returned for the first time in a year as covid pandemic fears ebb.  

FX Implications

The USD/IDR pair rebounds from three-month lows of 14,145, as the Indonesian rupiah shrugs off strong local data. The bounce could be attributed to a recovery in the US dollar across its main competitors in the NFP aftermath.

The spot was last seen trading at 14,200, still down 0.56% on the day.

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Author

Dhwani Mehta

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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