USD/IDR Down On Moody's Indonesia Ratings Upgrade

The USD/IDR is lower as Moody's upgrade of Indonesia's credit worthiness to its lowest investment grade of Baa3 vs Ba1 is expected to spur fund inflows into the government's local bonds. "We expect new long-term international investors will buy the government bonds as Moody's upgrade is the second one after Fitch's action last month," a dealer says; The USD/IDR is down at 9,140 vs 9,180 late yesterday; meanwhile, government's rupiah bonds are higher across the board with the 10-year yield falling 3.1 bps to 5.99% and 20-year down 3 bps at 6.99%; the 30-year edges down 5.1 bps to 7.25%