USD/IDR Price News: Indonesian rupiah hits monthly highs despite mixed trade data

Dhwani Mehta FXStreet

According to the latest trade data published by the Indonesian Statistics Bureau, the country posted a bigger-than-expected trade surplus in January but both imports and exports disappointed.

Indonesia reported a trade surplus of $1.96 billion vs. $1.68 billion expected and $2.10 billion previous. The imports and exports came in at -6.49% and12.24% respectively vs. -2.77% and -13.59% expectations and -0.47% and +14.63% respective priors.

FX implications

USD/IDR sits at fresh one-month lows of 13,896.50 on mixed Trade Balance data. The cross sheds 0.48% 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).

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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