JAKARTA, May 20 Reuters Indonesias exports racked up their strongest rise in 11 years in April, boosted by a surge in prices of key commodities such as palm oil and copper, though the unexpectedly robust figure is not expected to change the central banks policy settings.
The resourcerich nations shipments rose 51.94 on a yearly basis to 18.48 billion, marking the sharpest increase since 2010 and beating a forecast 41 rise in a Reuters poll. The export value was the highest since August, 2011.
The jump boosted Aprils trade surplus for Southeast Asias largest economy to 2.19 billion, up from a surplus of 1.56 billion in March and more than double the poll forecast of 1 billion. The April surplus was the biggest in five months.
Nonetheless, the rupiah remained under pressure, trading at its weakest level in two weeks on Thursday.
The currency has been unnerved by a hint of tapering in comments from the U.S. Federal Reserve, which drove selling in the bond market and lifted the dollar.
Indonesias central bank is expected to conclude a twoday policy review next Tuesday.
While the trade surplus may seem hefty, the status quo on the rupiah remains unchanged, said Satria Sambijantoro, an economist with brokerage Bahana Sekuritas, predicting no change in Bank Indonesias interest rate policy amid a potential uptick in U.S. Treasury yields and inflation from commodity prices.
Satria said, however, the trade data was further evidence of an economic recovery from the…