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The rupiah rose as much as 0.4% to 16,135 per dollar on Friday, heading for an eighth straight day of gains and its longest rally since 2016. The move followed Indonesian steps to ease fiscal concerns and growing bets on Federal Reserve rate cuts.
A stronger rupiah lowers Indonesia's cost of imported feed ingredients, though the effect on global grain and meal prices is limited.
bloomberg.comMatthew BurgessJul 12, 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.
