On Tuesday, Indonesian Finance Minister Sri Mulyani Indrawati rolled out a 10.3 trillion rupiah ($748.55 million) stimulus package, in an effort to cushion the blow of the China coronavirus outbreak on its economy.
The outbreak in China, Indonesia’s top trade partner and a major source of investment and tourists, could further weaken Indonesia’s growth to 4.7% in 2020, from 5.02% in 2019, Indrawati warned.
Rupiah off seven-week lows
The above announcement offered some respite to the IDR bulls, as USD/IDR eased-off a new seven-week high at 13,907.50 to now trade near 13,882 region, still up 0.13% on the day.
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