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The rupiah fell to its weakest level since November, reaching 15,728 per dollar on January 25, 2024. Bank Indonesia said it intervened in the FX market to balance supply and demand.
Speculation about Finance Minister Sri Mulyani Indrawati's resignation and the upcoming February 14 elections also weighed on sentiment.
Currency weakness and central bank intervention affect Indonesian import costs for feed raw materials, but the story has little direct effect on global commodity prices.
english.kontan.co.idHerlina KDJan 25, 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.
