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The rupiah opened weaker against the US dollar on March 28, 2024, falling 23 points to Rp15,881 per dollar as traders awaited signals on Fed rate cuts. Markets were focused on the US PCE inflation data due that Friday, which analysts said would guide the timing of Fed easing.
Prabowo Subianto and Gibran Rakabuming Raka's election win was seen as a possible positive for the rupiah.
A firmer dollar on delayed Fed easing raises the rupiah cost of imported feed inputs and adds to Indonesian feed-buyer costs. The effect on grain prices is indirect.
antaranews.comMartha Herlinawati SimanjuntakMar 28, 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.
