USD/IDR Price News: Rupiah drops towards 14,400 despite strong Indonesian Retail Sales

Indonesia's Retail Sales improved further to 15.2% on the year in January vs. a 13.8% rise seen in December, the latest survey conducted by Bank Indonesia (BI) showed on Thursday.

On Wednesday, the country’s Consumer Confidence Index deteriorated to 113.1 in February when compared to 119.6 booked in January.

FX implications

USD/IDR is bouncing off fresh two-week lows of14,270, despite strong Indonesian data.

At the press time, USD/IDR is trading at 14,313, down 0.22% on a daily basis, looking to recapture 14,400. The US dollar rebound across the board is saved the day for USD/IDR bulls.