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Rupiah Steady Ahead Of Bank Indonesia Decision

IDR

Spot USD/IDR trades flat at IDR14,354 at typing, oscillating within a well-defined range. Bulls look to a break above Apr 8 high of IDR14,380, with bears keeping an eye on Apr 5 low of IDR14,338.

  • USD/IDR 1-month NDF last seen -4 figs at IDR14,371. Bears look for sales past Mar 30 low of IDR14,329, while bulls see Apr 8 high of IDR14,408 as their initial target.
  • Bank Indonesia brought forward the announcement of its monetary policy decision to 12:30 WIB/06:30 BST from 14:20 WIB/08:20 BST.
  • Policymakers are widely expected to keep the benchmark policy rate unchanged as inflation holds below the mid-point of the target range (despite recent acceleration) and the rupiah remains stable.

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