# Indonesian rupiah drags weak Asian FX lower - Business & Finance - Business Recorder

> Most Asian currencies and equities eased on Nov 22 after a recent rally, as investors grew cautious about expectations that the Fed's rate-hike cycle was ending. The Indonesian rupiah fell more than 1%, its biggest one-day drop since Sept. 28, and the Malaysian ringgit also weakened. Analysts attributed the rupiah's slide mainly to onshore dollar demand.

- Date: 2023-11-22 · published 2023-11-22T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/33489-indonesian-rupiah-drags-weak-asian-fx-lower-business-and-finance-business
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A weaker rupiah and ringgit raise the local-currency cost of imported feed ingredients and can pressure Indonesian and Malaysian feed and palm oil buyers. The move is a short-term currency swing with little direct effect on grain or meal prices.

## Read by commodity

- USDIDR: bullish ▲
- USDMYR: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40274674

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.