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USD/IDR operates +72 pips at IDR15,539...>

DOLLAR-IDR
DOLLAR-IDR: USD/IDR operates +72 pips at IDR15,539 at typing. Little to drive
the pair higher, apart from yesterday's risk-off flows. Indonesia said that it
is readying another stimulus package, this time to lend a helping hand to rice
farmers. Elsewhere, BBG cited a statement from the gov't's fiscal agency, which
said it expects deficit to "widen this year by further IDR12.2tn if Indonesia
crude price falls to below yearly avg of $30.9/barrel".
- On Tuesday, Bank Indonesia's board announced a rule allowing the central bank
to buy bonds in primary market as non-competitive bidder.
- Indonesia's Chamber of Commerce and Industry urged the government to increase
spending dedicated to fighting the coronavirus crisis to at least IDR1.6tn over
the next half a year.
- A rally above IDR15,754, the high of Apr 16, is needed to expose Apr 6/Mar 23
highs of IDR16,563/625, the best levels in more than 20 years. On the downside,
a dip under Apr 20 low of IDR15,413 would draw attention to the 50-DMA at
IDR15,015.

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