CAD to IDR Exchange Rate

Ah, Indonesia: home to world’s largest Muslim population, the most islands of any nation, and a volcano that spews blue gas. True.

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What influences the CAD/IDR exchange rate?

Bank Indonesia’s goal is to maintain the Indonesian rupiah’s stability, specifically in terms of prices for services and goods reflected in inflation. It adopted the inflation targeting framework in 2005, and keeping inflation at the government recommended level is their primary monetary policy objective.1
 
Like Canada, Indonesia adheres to the floating exchange rate system in order to maintain financial stability. Because of Indonesia’s thriving service sector exports and a young, growing labor force, its central bank may intervene to ensure the currency maintains the inflation target. Rather than pegging the IDR exchange rate to a specific level, Bank Indonesia focuses on minimising rate volatility.1
 
The Canadian dollar (CAD) works under a floating exchange rate regime. Therefore, the CAD/IDR exchange rate may be determined by supply and demand, and the value of the U.S. dollar may play an influential role as it is a critical trade partner for Canada. Other factors that might influence CAD’s exchange rate include commodity prices, interest rates, and inflation rates.2

CAD/IDR Snapshot 

“With respect to trade, Indonesia represents a growing market for Canadian goods, services, and investment. Many Canadian firms have a presence in Indonesia and directly employ tens of thousands of Indonesians.” – Government of Canada3

  • Indonesia and Canada work as partners in multilateral organizations that include the World Trade Organization (WTO), the G20, the Association of Southeast Asian Nations (ASEAN), and the Asia-Pacific Economic Cooperation (APEC).3
  • In 2015, Canada was ranked 10th in GDP, while Indonesia ranked 16th.4
  • In 2015, Canada was the 11th largest exporter and 10th largest importer in the world.5 Indonesia was the 26th largest exporter and the 31st largest importer.6
  • Canada’s top exports include crude petroleum, cars, refined petroleum, vehicle parts, and helicopters, planes, and spacecraft.5
  • Indonesia’s top exports include coal briquettes, palm oil, rubber, crude petroleum, and petroleum gas.6  

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Currency Name: Indonesian Rupiah

Currency Code: IDR

Currency Symbol: Rp

Central Bank: Bank Indonesia

Countries Used In: Indonesia

Major Unit: One Rupiah   

Minor Unit: One Sen  

Note Denominations: Rp 1,000, Rp 2,000, Rp 5,000, Rp 10,000, Rp 20,000, Rp 50,000, Rp 100,000

Coin Denominations: Rp 50, Rp 100, Rp 200, Rp 500, Rp 1000

 

IDR to CAD exchange rate analysis. Check out our daily market analysis to learn the factors influencing the IDR to CAD exchange rate today.

 

Sources:

 

  1. http://www.bi.go.id/en/moneter/tujuan-kebijakan/Contents/Default.aspx
  2. https://lop.parl.ca/Content/LOP/ResearchPublications/tips/tip117-e.htm
  3. http://www.canadainternational.gc.ca/indonesia-indonesie/bilateral_relations_bilaterales/canada-indonesia-indonesie.aspx?lang=eng&_ga=2.184238368.764771610.1497977016-1910332906.1497977016  
  4. http://databank.worldbank.org/data/download/GDP.pdf
  5. http://atlas.media.mit.edu/en/profile/country/can/
  6. http://atlas.media.mit.edu/en/profile/country/idn/