USD/IDR Price News: Indonesian rupiah keeps range around $14,000 on BI Warijiyo’s comments

Bank Indonesia (BI) will keep the interest rates low while providing for ample liquidity, the central bank Governor Perry Warjiyo said on Tuesday.

Additional comments

Q4 GDP shows a recovery trend despite contraction.

2020 GDP contraction more than initially expected, recovery not as fast as expected.

Economic recovery trend will depend on vaccination drive.

Rupiah's exchange rate still undervalued.

Reiterates all instruments will be directed at accelerating economic recovery while maintaining stability in 2021.

Market reaction

The Indonesian rupiah trades near five-week highs, as USD/IDR consolidates Monday’s sell-off around $14K mark.