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Rupiah Marginally Softer

IDR

Spot USD/IDR has recovered from a new multi-week low and last trades +6 figs at IDR14,289. A continued upswing above Aug 27 high of IDR14,445 would bring Aug 20 high of IDR14,473 into play. Bears look for a retreat under Jun 11 low of IDR14,185, a key near-term support.

  • USD/IDR 1-month NDF last +40 figs at IDR14,317, with topside focus falling on IDR14,522, which limited gains on Aug 26 & 27. Bears would be pleased by a plunge below IDR14,243, the trough of Aug 31.
  • Indonesia has reached a milestone of administering 100mn doses of Covid-19 vaccines, albeit this means that just 23% of the country's population have received at least one dose so far.
  • Indonesian Trade Min Lufti and his counterpart from the UAE will speak on CEPA this afternoon.
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