Rupiah opened lower at Rp18,026 per USD this morning on more depressing news. Indonesia dropped significantly in the World Competitiveness Ranking 2026 to 48th out of 70 countries, below the Philippines (47), Vietnam (27), and Malaysia (15). The country’s manufacturing PMI for June, meanwhile, fell to 46.9, the deepest contraction year-to-date. To subscribe please click here
