Indonesian Rupiah Likely to Hold Around 18,000 Level Vs. Dollar
Dow Jones
Sep 29
0707 GMT - The Indonesian rupiah is likely to hold around the 18,000 rupiah level against the greenback for the remainder of this year, DBS's Yeang Cheng Ling and Joanne Goh say in a report. The Federal Reserve is expected to keep their rates firm or hike further, keeping the dollar firm and limiting room for a meaningful rupiah appreciation, DBS says. S&P Global Ratings' reaffirmation of Indonesia's investment grade sovereign rating and stable outlook also removes a key tail risk for the market, it adds. This reflects confidence in the country's fiscal discipline and commitment in keeping the deficit below the 3% of GDP ceiling. The dollar is 0.1% higher at 17,990 rupiah.
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