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The rupiah recovered some losses on June 5, trading at 16,265 per US dollar after touching a four-year low of 16,290. Bank Indonesia said it will keep intervening to stabilize the currency and reiterated a projected trading range of 15,700 to 16,100.
Central bank intervention can limit further depreciation and so ease import cost pressure for Indonesian feed buyers. The stated target range gives buyers a reference for planning dollar-denominated purchases.
reuters.comStefanno SulaimanJun 5, 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.
