According to the latest data published by the Bank Indonesia (BI), the Indonesian central bank, the country’s current account deficit widened further in the fourth quarter of 2019.
Indonesia reported an $8.1 billion (bln) current account deficit in October-December, equivalent to 2.84% of gross domestic product (GDP), from a 2.7% gap in the previous quarter.
Q4 2019 balance of payments at $4.3 bln, vs. -$0.05 bln in Q3.
Full-year 2019 balance of payments at $4.7 bln surplus vs. 2018’s deficit of $7.1 bln.
Full-year 2019 current account balance was -2.72% of GDP, vs revised 2.94% deficit in 2018.
USD/IDR sits at multi-day high
Amid growing China coronavirus concerns and widening Indonesia’s current account deficit, the Indonesian rupiah remains on the offers so far this Monday. USD/IDR trades at 13,717, having posted a new three-day high at 13,722.50 in the last minutes.
Markets look forward to the country’s Retail Trade report due later in the session ahead.
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USD/IDR Technical levels to watch