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Rupiah Goes Offered

IDR

Spot USD/IDR has crept higher and last trades +35 figs at IDR14,208, after printing best levels in two weeks. Further gains past the 50-DMA at IDR14,251 would please bulls, while bears look for a pullback towards Oct 18 low of IDR14,057.

  • USD/IDR 1-month NDF last -18 figs at IDR14,249. Bears look for a dip through Oct 26 low of IDR14,148. Bulls eye the 50-DMA at IDR14,287 for initial resistance.
  • FinMin Indrawati said Wednesday that Indonesia's economy may grow 5.4% Y/Y in Q4 and reaffirmed the full-year growth target of +4.5% Y/Y.
  • Elsewhere, BI Gov Warjiyo noted that the monetary authority is considering extending looser policy on down payments for home and car purchases until 2023.

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