# Indonesia central bank has intervened in FX market, official says

> Bank Indonesia intervened in the foreign exchange market on Friday as the rupiah weakened to 16,295 per dollar, its lowest since July 9. Officials attributed the pressure to stronger-than-expected US growth, Pertamina's dollar demand for imports, and corporate fund repatriation. BI said volatility should be short-lived.

- Date: 2024-07-26 · published 2024-07-26T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/29607-indonesia-central-bank-has-intervened-in-fx-market-official-says
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md)

## Why it matters

A weaker rupiah raises the local cost of imported feed inputs for Indonesia, but the central bank's intervention limits near-term pressure and the impact on global feed commodity prices is minimal.

## Read by commodity

- USDIDR: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40314502/indonesia-central-bank-has-intervened-in-fx-market-official-says

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.