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Reports that Finance Minister Sri Mulyani may exit prompted a sharp rupiah drop last week, and the central bank intervened in the currency market. The rupiah is down 2% so far in 2024, and the stock index is down 1% year to date.
Rupiah weakness and political uncertainty raise Indonesia's import costs for feed ingredients priced in dollars, while a weaker currency can make Indonesian crush and export offers more competitive.
reuters.comAnkur BanerjeeFeb 1, 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.
