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The rupiah hit 16,419 per US dollar on June 17, its weakest level since April 2020. Analysts attribute the slide to a hawkish US Federal Reserve that is in no hurry to cut rates and to concerns over Indonesia's budget.
A sharp currency fall raises imported inflation and the cost of dollar-denominated feed ingredients for Indonesian buyers. The move could also prompt Bank Indonesia to intervene or tighten, affecting import economics.
thejakartapost.comRuth Dea JuwitaJun 19, 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.
