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Bank Indonesia Governor Perry Warjiyo said the rupiah's recent weakness was driven by global news, mainly the markets' pushback on expected US rate cuts because of high US inflation. He also cited geopolitical tensions in the Middle East and China's curbs on share lending.
He said Indonesia's economic fundamentals remained sound.
Delayed US rate cuts keep the dollar firm, which can raise the cost of dollar-denominated commodity imports for Indonesia and pressure feed and commodity prices.
cnbcindonesia.comRosseno Aji NugrohoJan 30, 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.
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.
