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USD/IDR set to move toward 15,000 by end-2024 – Standard Chartered – Crypto News
Economists at Standard Chartered analyze Indonesia’s macroeconomic outlook and share their forecast for the Rupiah (IDR.)
2024 GDP growth to pick up to 5.2% YoY
We expect 2024 GDP growth to pick up to 5.2% YoY on a continued cyclical recovery, election spending, and still-healthy demand for Indonesia’s main export commodities.
We expect BI to start cutting rates in H2, with a risk of an earlier cut should the Fed move faster on a sharper US economic downturn.
We stay constructive on the Indonesian Rupiah and see USD/IDR appreciating to 15,000 by end-2024 on resumed portfolio flows.
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