USD/IDR set to plunge to 14,500 by end-2023 – MUFG

USD/IDR set to plunge to 14,500 by end-2023 – MUFG

The Indonesian Rupiah was a surprise outperformer in January. Economists at MUFG Bank expect the USD/INR to stabilize in the short-term before moving to 14,500 by year-end.

Some near-term consolidation after strong January gains

“For USD/IDR, we see some near-term consolidation after strong January gains. Thereafter, we retain our view of the IDR making more inroads against the USD later this year.”

“We forecast USD/IDR at 14,500 by the end of 2023.”

See –USD/IDR Price News: Rupiah rises towards $15,000 on upbeat Indonesia GDP, focus on China, Fed updates

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