USD/IDR: Extra gains are likely ahead of a probable pullback – UOB

The Indonesian rupiah is expected to remain weak in the very near-term and to gradually regain momentum in the longer run, as noted in the UOB Group’s Quarterly Global Outlook.

Key Quotes

“Overall, we expect the IDR to stay weak in the immediate quarter before recovering.”

“Our updated USD/IDR point forecasts are 14,900 for 4Q20, 14,800 for 1Q21, 14,700 for 2Q21, and 14,500 for 3Q21.”