Indonesia’s Retail Sales plunged by 16.4% on the year in January vs. a 19.2% slump seen in December, the latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, released on Tuesday.
The slowdown in the retail sales decline came on the back of an improvement in the sales of food and beverages, tobacco and clothes.
The Bank Indonesia survey forecasts a 16.5% YoY in the sales in February, per Reuters.
FX implications
The Indonesian rupiah (IDR) trims losses against the US dollar amid a minor improvement in the Indonesian Retail Sales.
At the press time, USD/IDR trades at 14,415 up 0.45% on a daily basis, having eased from four-month highs of 14,472.5.
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