Indonesia skyline

Indonesia Exchange Rate April 2020

Indonesia: Rupiah rebounds in April amid Central Bank intervention

The rupiah traded at IDR 15,400 per USD on 24 April, marking a 7.1% appreciation from the same day of the previous month. The sharp rise was likely driven by some reduction in international uncertainty following massive monetary stimulus plans from major central banks, and FX market intervention by Bank Indonesia.

As analysts at UOB comment: “Stabilization measures and policy mix undertaken by BI, as well as close coordination with the Government and the Financial Services Authority (OJK) have helped stabilise market conditions.”

Nevertheless, the rupiah, which is down 9.9% year-to-date, remains the worst-performing major ASEAN currency so far this year.

Looking ahead, Bank Indonesia believes the currency is still undervalued despite the recent appreciation and sees the rupiah strengthening towards IDR 15,000 per USD by the end of the year, which is broadly in line with FocusEconomics panelists’ forecasts. However, the currency is set to exhibit volatility and remains vulnerable to capital outflows given the high foreign ownership of government bonds and corporate debt

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest