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The rupiah weakened to a record low of Rp 18,184 per US dollar on Wednesday, October 28. Oil prices above $100 per barrel raised concerns about Indonesia's energy subsidy costs and budget deficit.
Rising US rate expectations and foreign fund outflows added pressure.
Indonesia is a net oil importer, so high crude raises the state's subsidy bill and weakens the rupiah, which lifts the local-currency cost of imported feed ingredients such as soybean meal and corn.
jakartaglobe.idNatasha Khairunisa, Arnoldus KristianusOct 28, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
