Forex
Home›Forex›Major Pairs›Indonesian rupiah strengthens as China PMI data lifts…
Indonesian rupiah strengthens as China PMI data lifts sentiment
USD/IDR was quoted near 17,860 during Asian hours, extending the pair’s losses for a second straight day as China’s manufacturing and services PMI improved.
USD/IDR extended its losses for a second consecutive day, trading around 17,860 during Asian hours on Wednesday, as the Indonesian rupiah gained ground, FXStreet reported.
FXStreet pointed to improved sentiment tied to stronger Chinese economic activity. China’s official Manufacturing PMI edged back into expansion territory at 50.1, while the Non-Manufacturing PMI rose from 49.0 in August to 50.2, beating expectations.
Additional private-sector indicators also supported the move. China’s RatingDog Manufacturing PMI climbed to 52.1 in September, and the Services PMI edged up to 51.6, both indicating steady overall improvement, according to FXStreet.
The report also cited domestic policy assurance, saying Indonesia’s Finance Minister Suahasil Nazara provided reassurance, which added confidence for the rupiah.