Forex
Rupiah Strengthens Against US Dollar Amid Rising Consumer Confidence
The Indonesian Rupiah (IDR) has strengthened against the US Dollar (USD), reaching around 17,570 in early European trading on Wednesday. This comes after a survey by Bank Indonesia found that consumer confidence in economic conditions increased in August compared to July.
The Consumer Confidence Index (CCI) rose to 118.5 in August from 116.8 in July, indicating an optimistic outlook among Indonesian consumers.
The country's official forex reserve assets also increased to USD 146.5 billion at the end of August, a rise from USD 145.3 billion at the end of July.