USD/IDR: Rupiah to remain weak in the coming month – Mizuho

FXStreet Insights Team FXStreet

The Indonesian Rupiah depreciated slightly against the US Dollar in July. The IDR is forecast to remain weak in August, economists at Mizuho Bank report.

Not necessary for the central bank of Indonesia to start cutting its policy interest rate now

After evaluating the positive effect on the domestic economy and the negative effect on the foreign exchange market, the central bank of Indonesia is likely to maintain its policy interest rate at the existing level without cutting it for a while.

On the other hand, the US could still raise its policy interest rate. Thus, the Indonesian Rupiah is forecast to remain weak against the US Dollar in the coming month.

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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