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- USD/IDR to fall back to 14,400 in Q2 2024 – MUFG
USD/IDR to fall back to 14,400 in Q2 2024 – MUFG
IDR was leaning on the weaker side against the USD in June. Economists at MUFG Bank analyze USD/IDR outlook.
Supportive current account fundamentals for the IDR
Fundamentals are stable. GDP growth reached 5.03% YoY in Q1, similar to the 5.01% result in Q4-2022. Inflation retreated further. We anticipate that inflation will head lower towards a 2-3% range in the coming months.
We also believe that Indonesia’s trade surplus will be a supportive factor for the IDR.
We expect USD/IDR to fall back to 14,400 in Q2-2024 as yield differentials widen once again in favour of IDR.
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