Insight

Rupiah -3% on Outflows, Geopolitics & US Data

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Algo Research Team

Market | Oct 05, 2024 | Views: 156

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Key Summary:

  • IDR was performing impressively
  • USD strengthened last week
  • Assessment of IDR short-term outlook

After impressively outperforming against USD in June-September, Rupiah (IDR) started to see a correction back to 15,500-15,600 (-3%) last week, in-line with our expectation as mentioned previously.


The rally: In the past few months, IDR performed strongly vs. USD, where it was up +8% from its bottom around 16,400 in June to testing its psychological level of 15,000 at the end of September.

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