THE Indonesian rupiah looks set for gradual appreciation into 2026, but investors are bracing for a rocky ride along the way. Widely seen as undervalued, the currency remains caught in a tug of war between supportive economic fundamentals and persistent fiscal concerns.
In its recent report, RHB Research notes that the rupiah remains fundamentally undervalued, but near-term performance hinges on Bank Indonesia’s (BI) dovish tilt, global risk sentiment and market perceptions of fiscal credibility.
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