According to the latest poll performed by Bank Indonesia (BI), the country’s central bank, the country’s Consumer Confidence Index increased to 107.40 in June from 104.40 in May.
Despite the newest lockdown restrictions placed in the country due to a rise of covid cases, consumer confidence improved significantly, according to the survey.
In a knee-jerk reaction to the bullish Indonesian statistics, the USD/IDR pair fell to weekly lows of 14,440. The bulls, on the other hand, reclaimed control and reclaimed the 14,500 level. The price of the spot was last spotted at 14,547.5, up 0.47 percent on the day.
USD/IDR may trade in the 14,395-14,550 area, according to UOB./n
