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Bank Indonesia said it was ready to intervene in currency markets to steady the rupiah as it weakened toward the 16,000-per-dollar level. The article notes that dollar demand from a state-owned company had been declining, which could ease pressure on the currency.
Central bank intervention may slow rupiah depreciation, which would limit the cost effect on Indonesian exports, though the impact on commodity prices is small.
bloomberg.comClaire Jiao, Matthew BurgessDec 4, 2024Not 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.
