Further Rupiah Strength On The Cards

The Indonesian rupiah has been one of the best performing currencies in Asia, and we still see potential for further upside over the medium term. From a technical basis, the rupiah is rapidly approaching two-year trendline resistance our end-2009 target of IDR9,100/US$. We expect this level to be breached, setting up further appreciation towards IDR8,800/US$ by end-10.

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