Convert IDR to EUR
The IDR/EUR exchange rate experiences significant volatility on the release of important economic data from Indonesia and the Eurozone, including GDP, inflation, trade balance, retail sales, PMI reading from the manufacturing sector and unemployment rate.
The IDR/EUR currency pair sees maximum movement during the Asian and European trading sessions, when most market moving events related to this pair release. As a result, this pair sees most volatility between 11:00 PM and 04:00 PM GMT.
Both IDR and EUR see considerable change in their value on the announcement of changes to monetary policy and interest rates by the Bank of Indonesia and the European Central Bank respectively. For instance, when the ECB cuts interest rates or adopts a more dovish tone in its monetary policy, the EUR weakens, causing IDR/EUR to trade bullish, and vice versa.