Insight

How Long Will IDR Strengthen Against USD?

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Algo Research Team

Market | Sep 26, 2024 | Views: 93

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Key Summary:

  • IDR is one of the best performing EM currencies
  • Testing psychological resistance level at 15,000
  • Currency strength still depends on foreign inflows

Indonesian Rupiah (IDR) has continued to appreciate vs. US Dollars (USD) on anticipation of looser US monetary stimulus that makes EM assets across the region relatively more attractive.


The currency strengthening is in-line with other Asian EM peers, where IDR is up +4.6% in the past one month, behind Thai Baht (THB) at +6.6% and Malaysian Ringgit (MYR) at +7.3%.

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