USD/IDR: Indonesian rupiah sits at weekly lows of 14,575 post-Indonesian Trade data

According to the latest trade data published by the Indonesian Statistics Bureau, the country posted a bigger-than-expected trade surplus in June.

Indonesia reported a trade surplus of $1.27 billion vs. $1.11 billion expected and $2.09 billion previous. The imports and exports came in at -6.36% and +2.28% respectively vs. -18.70% and -12.26% expectations and -42.2% and -28.95% respective priors.

About Indonesia’s Trade Balance

The Trade Balance released by Statistics Indonesia is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. If a steady demand in exchange for Indonesian exports is seen, the Rupiah will receive a positive (or bullish) effect, while a low reading is seen as negative (or bearish).