Geopolitical Sentiment Hits Rupiah Again. Yesterday, the rupiah in the spot market weakened 0.5% to the level of IDR 14,326/USD. External risks re-emerged as geopolitical tensions between Russia and Ukraine escalated. Previously, market participants responded positively to the release of the minutes of the Fed’s meeting which did not give any indication of a more aggressive interest rate hike plan than expected. Investors also responded positively to data that US retail sales rose 3.8% in January, exceeding consensus expectations of 2.1%.
Download full report HERE.