USD/IDR to remain elevated near-term, ticking down to 14,700 by year-end – MUFG USDIDR Indonesia Banks
“We anticipate a roughly balanced current account for 2023, with IDR headwinds from potential financial account outflows in H1 reversing to inflows in H2. Hence, the IDR may face some downside pressures in the near-term as yield differentials with the US narrow further.” “At the end of the year, we see USD/IDR at 14,700, helped by a potential shift in US rate stance towards neutrality, China’s reopening, and a possible commodity market rally.
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