Indonesia's Retail Sales rise 1.3% YoY in Nov, Rupiah at 21-month highs
Fundamental Forex Analysis

Indonesia’s Retail Sales rise 1.3% YoY in Nov, Rupiah at 21-month highs

Indonesia’s Retail Sales grew by 1.3% on the year in November vs. a 3.6% jump seen in October, the latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, released on Friday.

The survey also predicted retail sales would decline 0.2% on an annual basis in December, Reuters reports.

Retail sales grew at a slower pace as compared with October’s surge.

The Indonesian Rupiah (IDR) hit fresh 21-month highs vs. the US dollar at 13,797.50 last hour, as USD/IDR extended four-day losing streak on Friday. At the press time, the spot trades at 13,805, down 0.21% on the day.

Easing Mid-East tensions combined with optimism surrounding the US-China phase one trade deal signing continue to underpin the Asian currencies.

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