IDR strengthens as President Prabowo projects 6% GDP growth
The Indonesian Rupiah (IDR) found support following President Prabowo’s optimistic Independence Day address, where he projected 6% GDP growth by next year.
The growth is expected to be driven by ongoing investment realization and steady job creation.
The USD/IDR pair also depreciated alongside a broader decline in the US Dollar, triggered by weaker-than-expected US economic data, including a 0.6% drop in July Retail Sales.