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Bank Indonesia entered the foreign exchange market on October 3 to balance supply and demand after the rupiah fell about 0.8% to its weakest since September 16. The move followed Middle East geopolitical tension and shifting expectations for the size of Federal Reserve rate cuts.
Currency intervention signals rupiah pressure that raises the local cost of dollar-denominated feed imports, though the market impact on grain prices is limited.
english.kontan.co.idAnna Suci PerwitasariOct 3, 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.
