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Rupiah Edges Higher

IDR

Spot USD/IDR has shed 6 figs thus far and last deals at IDR14,350, with bears looking for a fall through Mar 30 low of IDR14,325 towards Mar 17 low of IDR14,275. Conversely, a jump above Mar 24/Apr 8 highs of IDR14,380 would give bulls a green light for targeting Mar 7/Jan 31 highs of IDR14,415/14,420.

  • USD/IDR 1-month NDF last seen -3 figs at IDR14,365. Bears look for losses past Mar 30 low of IDR14,329, while bulls keep an eye on Apr 8 high of IDR14,408.
  • Indonesian FinMin Indrawati said she is confident that differences over Russia's invasion of Ukraine will not undermine cooperation among G20 nations, even as U.S. Tsy Sec Yellen and several other FinMins walked out of a G20 summit when Russian envoys took the floor. Note that Indonesia holds the rotating presidency of G20 this year.

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