- Analytics
- News and Tools
- Market News
- USD/IDR to consolidate between the 14,600-15,000 range near term – Commerzbank
USD/IDR to consolidate between the 14,600-15,000 range near term – Commerzbank
IDR has been the best performer among Asian currencies this year. It is up by 4.6% vs USD year-to-date. Economists at Commerzbank expect the USD/INR pair to hover around the 14,600-15,000 range near term.
BI will be averse to excessive strength in the currency
“The pullback in commodity prices has not hurt IDR’s prospects. Instead, the current account balance improvement has been a major supportive factor. The current account balance has been in surplus since the second half of 2021, and it rose to 1.2% of GDP in Q1 2023. It should stay in surplus territory for the rest of the year, aided partly by lower imports.”
“We suspect Bank Indonesia will also be averse to excessive strength in the currency. We look for consolidation in USD/IDR between the 14,600-15,000 range near term.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
