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Rupiah Holds Steady Ahead Of Central Bank Policy Announcement

IDR

Spot USD/IDR recouped its initial losses and has been stable since, as we await today's monetary policy decision from Bank Indonesia (see our preview for more colour). The rate last trades -5 figs at IDR14,358, with bears looking for a fall through Jan 11 low of IDR14,285 before taking aim at the 100-DMA at IDR14,267. Conversely, a clearance of yesterday's high of IDR14,374 would shift focus to Jan 6/Dec 21 highs of IDR14,399/14,400.

  • USD/IDR 1-month NDF last seen -19 figs at IDR14,375. Bears look to a move through Jan 13 low of IDR14,292, with bulls seeking a break above Jan 6 high of IDR14,470.
  • Little of note from Pres Widodo, who warned against the spread of the Omicron variant. Elsewhere, FSA Chair Santoso said that Indonesia's credit growth is expected to rise 7.5% Y/Y this year.
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