Convert IDR to USD
The IDR/USD currency pair's exchange rate experiences considerable volatility on the release of key economic data from Indonesia and the US, including GDP, inflation, unemployment rate, trade balance and PMI readings for the manufacturing sector.
Both IDR and USD see significant movement whenever the Bank of Indonesia or the Federal Reserve announce changes to the monetary policy and interest rate. For instance, if the Fed hikes interest rates or tightens its monetary policy, the USD strengthens, turning the IDR/USD forex pair bearish, and vice versa.
The Indonesian rupiah had weakened to a historic low of 15,009 against the US dollar on 4 September 2018.