Indonesia’s Retail Sales plunged by 16.9% on the year in April vs. a 4.5% drop seen in March, the latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, released on Tuesday.
This was the biggest drop since November 2008.
The Bank Indonesia survey predicted sales in May to contract further by 22.9% YoY, Reuters reports.
FX Implications
The Indonesian Rupiah (IDR) keeps the offered tone intact against the US dollar at 14,100 on following a big slump in Indonesia’s Retail Sales. USD/IDR adds 0.36% on a daily basis.
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