The Indonesian Rupiah is down 0.7% against the US Dollar this month, the biggest decliner among major Asia FX. Nevertheless, economists at TD Securities remain constructive on IDR.

Holding jets before going short USD/IDR

“BI is not sounding overly concerned on FX now, sticking to its stance that it stands ready to intervene to stabilise the currency.”

“We still remain constructive on IDR as real yields are positive across the curve and should support bond inflows, giving a boost to IDR.”

“Amid volatile markets, we will hold our jets before going short USD/IDR.”