The Indonesian rupiah advanced with help of positive domestic fundamentals today, shrugging off the negative market sentiment caused by expectations of continuous quantitative easing tapering from the US Federal Reserve.
Indonesia’s trade balance surplus reached the highest level in more than two years in December. The balance may improve even more as the country banned exports of raw ores, encouraging companies to build refineries for processing ores domestically. The positive economic environment allowed the rupiah to ignore the negative sentiment that hurt other risky currencies.
USD/IDR went down from 11,740 to 11,649 as of 10:09 GMT today after reaching the daily high of 11,785.
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