- Analytics
- News and Tools
- Market News
- USD/IDR: Sustained Rupiah strength likely to have to wait till external pressures recede – MUFG
USD/IDR: Sustained Rupiah strength likely to have to wait till external pressures recede – MUFG
In Indonesia, quick vote polling results show current Defense Minister Prabowo Subianto has won the 2024 presidential election, avoiding run-off election uncertainty. Economists at MUFG Bank analyze Rupiah’s (IDR) outlook following election result.
Cautious on the USD/IDR
We remain cautious on the USD/IDR, keeping our forecast at 15,800 in Q1 2024 and 15,850 in Q2 2024.
With Prabowo winning the presidential election in the first round, election uncertainty has somewhat eased. Still, we remain mindful of potential political transition risks stemming from the forming of a governing coalition among the different political parties and the appointment of key cabinet members.
Moreover, markets have further pared back expectations for US rate cuts this year following higher-than-expected US CPI data for January. Policy rate cuts by Bank Indonesia and sustained Rupiah strength against the US Dollar are likely to have to wait till external pressures recede.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
