USD/IDR: Rupiah hits three-day highs post-Indonesian trade data

Dhwani Mehta FXStreet

According to the latest trade data published by the Indonesian Statistics Bureau, the country unexpectedly posted a trade surplus in October.

Indonesia reported a trade surplus of $0.16 billion vs. $-0.28 billion expected and $-0.16 billion previous. The imports and exports came in at -16.39% and -6.13% respectively vs. -16.00% and -8.38% expectations and -2.4% and -5.73% respective priors.

The median forecast from economists was for a $0.28 trade deficit last month, the Reuters poll showed last week.

The unexpected trade surplus reported rescued the Indonesian Rupiah versus the US dollar, sending the USD/IDR cross to three-day lows of 14,055.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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