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Bank Indonesia intervened in the foreign exchange market on October 3 to manage dollar supply and demand. The move followed market turbulence that pushed the rupiah to its weakest level since January.
An official told Reuters of the intervention.
Central bank intervention can limit short-term rupiah losses but does not change the underlying pressure on Indonesian feed import costs. The effect on feed commodity prices is minor.
reuters.comStefanno Sulaiman, Gayatri SuroyoOct 3, 2023Not 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.
