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Rupiah Softens On Broader Market Flows

IDR

Spot USD/IDR has crept higher and last sits at IDR14,273, 25 figs higher on the day. Bulls look to further gains past Nov 11 high of IDR14,305, which would bring Nov 5 high of IDR14,390 into focus. Bears need losses past Nov 19 low of IDR14,210 before targeting Nov 15 low of IDR14,190.

  • USD/IDR 1-month NDF last +13 figs at IDR14,311. A break above Nov 11 high of IDR14,357 would open up Nov 3 high of IDR14,462. Meanwhile, a slide through Nov 19 low of IDR14,213 would expose Nov 15 low of IDR14,194.
  • Fitch affirmed Indonesia's credit rating at BBB, the second-lowest investment grade score, keeping outlook at stable.

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