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Most Asian currencies and equities eased on Nov 22 after a recent rally, as investors became cautious about expectations of an end to US rate hikes following minutes from the Federal Reserve's last meeting. The Indonesian rupiah fell as much as 0.98%, its biggest one-day percentage drop since Sept.
28, and the ringgit also weakened. Indonesia's central bank sold $236.5 million of new dollar-denominated securities to attract inflows.
A weaker rupiah and ringgit raise the local-currency cost of imported feed ingredients for Indonesian and Malaysian buyers. The move is a short-term currency swing with little direct effect on feed commodity prices.
brecorder.comRecorder ReportNov 22, 2023Not enough comparable past events yet for a historical read.
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.
