Adding more pressures onto the rupiah, Indonesia's Statistics Agency (BPS) announced on Wednesday (15/08) that the country's trade balance deteriorated significantly. In July 2018 Indonesia had a USD $2.03 billion trade deficit, much bigger than had been expected by analysts (and constituting the widest monthly trade deficit in the past five years). The latest deficit was particularly attributed to rapidly rising imports into Southeast Asia's largest economy.

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The central bank of Indonesia raised its benchmark interest rate (the seven-day reverse repo rate) by 25 basis points (bps) to 5.50 percent at the August 2018 policy meeting. The decision was in line with our expectations as heavy pressures have been affecting the rupiah after the collapse of the Turkish lira.

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Andira Agro, an Indonesia-based company that owns, operates, and manages palm oil plantations as well as one crude palm oil mill, is set to make its trading debut on the Indonesia Stock Exchange on Thursday (16/08). The offering price for the company's initial public offering (IPO) is set at IDR 200 per share.

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On 13 August 2018 Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website over the past seven days. Most of the topics involve economy and market-related topics such as the heavy pressures on Indonesian stocks and rupiah, an update on the 2019 presidential election, the current account balance, new tax regulations, and much more.

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