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The rupiah has weakened since the February 14 presidential election, closing at Rp15,660 per dollar on February 20, 2024. Bank Mandiri's chief economist cited investor wait-and-see sentiment ahead of the official count and expectations of higher-for-longer Fed policy after hot US inflation data.
Currency weakness and a strong dollar raise the cost of imported feed ingredients in Indonesia, while the election outcome has so far not changed the trade outlook for grains.
investortrust.idFarhan NugrahaFeb 20, 2024After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not 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.
