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Analyst Lukman Leong said the rupiah was pressured by US dollar strength after Fed Chair Jerome Powell said further rate hikes were not near an end. The rupiah opened 51 points weaker at Rp 14,992 per dollar on June 23.
A firmer dollar and weaker rupiah raise the cost of imported feed ingredients for Indonesian buyers, with no direct effect on global grain supply.
antaranews.comM Baqir Idrus AlatasJun 23, 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.
