# USD/IDR Price News: Rupiah drops to 15,320, eyes on BI rate decision: Analytics and Market news from 22 August 2023 06:05

> Bank Indonesia Governor Perry Warjiyo said the central bank cannot leave the rupiah to market forces and must intervene using foreign exchange reserves. He said a large currency swing would hurt the economy through inflation and could force rate hikes. The remarks were made at the ASEAN Fest 2023 event in Jakarta, with the dollar still above Rp 15,300.

- Date: 2023-08-22 · published 2023-08-22T12:00:00.000Z
- Category: policy · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/34910-usd-idr-price-news-rupiah-drops-to-15-320-eyes-on-bi-rate-decision-analytics
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md)

## Why it matters

Continued reserve-funded intervention shows the central bank is prepared to defend the rupiah, which limits sharp currency moves that affect the cost of imported feed. The effect on commodity prices is minor.

## Read by commodity

- USDIDR: bullish ▲

## Sources

- teletrade.org: https://www.teletrade.org/analytics/market-analysis/market-news/3894023

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