USD/IDR Price News: Indonesian rupiah hits fresh four-week lows at 14,600 on BI jawboning

Indonesia's central bank’s, Bank Indonesia (BI), Deputy Governor Dody Budi Waluyo said that the Indonesian rupiah is likely to remain under pressure, as the second-wave of coronavirus outbreak intensifies.  

Additional comments

“Early indicators show Indonesia may avoid recession despite weak Q2.”

“Indonesian rupiah faces pressure this week due to domestic factors such as fear of a second-wave outbreak.”

Last week, BI Governor Perry Warijyo said that they will ensure good governance in Bank Indonesia's agreement with the finance ministry.

USD/IDR spikes to 14,600

On the rupiah jawboning, USD/IDR spiked in the last minutes to reach fresh four-week highs of 14,600.

At the press time, the cross trades at 14,585, still up 1.96% on a daily basis.