# Indonesia c.bank to stabilise exchange rate to cushion price pressures - finmin

> Indonesia's finance minister said on Nov 3 that Bank Indonesia would strengthen measures to stabilise the rupiah and limit imported inflation. The central bank had unexpectedly raised rates by 25 basis points to 6% in October to defend the currency, which had fallen to its weakest level since 2020. The rupiah rose 0.5% to 15,770 per dollar after the Fed held rates steady.

- Date: 2023-11-03 · published 2023-11-03T12:00:00.000Z
- Category: policy · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/33492-indonesia-c-bank-to-stabilise-exchange-rate-to-cushion-price-pressures-finmin
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md)

## Why it matters

Official support for the rupiah reduces the risk of a sharp currency-driven rise in Indonesia's feed and food import costs. The policy response has little direct effect on global feed commodity prices.

## Read by commodity

- USDIDR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/asia/indonesia-cbank-strengthen-measures-so-rupiah-reflects-fundamentals-finmin-2023-11-03/

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