Indonesian Rupiah gains on robust Chinese PMI data, budget assurance
USD/IDR extends its losses for the second consecutive day, trading around 17,860 during Asian hours on Wednesday. The pair depreciates as the Indonesian Rupiah (IDR) gains strength, driven by improving market sentiment following stronger economic activity in China, Indonesias top trading partner. Official data from China‘s National Bureau of Statistics (NBS) showed the Manufacturing PMI creeping back into expansion territory at 50.1, matching market forecasts and recovering from August’s 49.8 reading. Meanwhile, the NBS Non-Manufacturing PMI saw a notable boost, rising from 49.0 in August to 50.2, comfortably beating the market expectation of 49.3. Private sector data further highlighted China‘s economic momentum across broader sectors. China’s RatingDog Manufacturing PMI climbed to 52.1 in September, outperforming both the previous reading of 51.5 and the 51.6 consensus estimate. Additionally, the Services PMI edged up to 51.6, topping both the prior months 51.4 and the expected 51.1, signalling steady overall improvement. Investor confidence in the Rupiah received an extra boost from domestic policy assurance. Indonesias Finance Minister Suahasil Nazara reassured lawmakers that the state budget was designed with prudence and credibility to effectively buffer the national economy against persistent global uncertainty. However, the downside of the USD/IDR pair could be restrained as the US Dollar (USD) gains









