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The Thai baht fell below 37 per dollar to a six-month low, down 7-8% so far this year. The Japanese yen and Indonesian rupiah also weakened, and Indonesia raised its policy rate by 25 basis points to 6.25% on April 24.
The Bank of Thailand said it was watching the currency closely.
A weaker baht and rupiah raise the local-currency cost of imported feed ingredients in Southeast Asia, which can push up feed costs in the region. The drivers are firm US rates and the strong dollar rather than a direct supply shock.
thaipbsworld.comApr 30, 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.
