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MUFG says Indonesian fundamentals, including Q1 GDP growth of 5.03% and easing inflation, should cushion the rupiah against dollar strength. The rupiah had weakened from 14,671 to 14,988 per dollar in May, and MUFG forecasts USD/IDR at 14,400 by Q1 2024.
A firmer rupiah lowers the local cost of imported feed inputs for Indonesian buyers, but the outlook has little effect on global feed commodity prices.
octaafrica.netJun 13, 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.
