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The rupiah weakened past 16,000 per dollar for the first time in four years. Bank Indonesia intervened mainly in spot and domestic non-deliverable forward markets to support the currency.
Currency pressure raises import costs for Indonesian feed buyers and signals central bank defense of the rupiah, which may limit further pass-through to local feed prices.
bloomberg.comMatthew BurgessApr 16, 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.
