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Most Asian currencies fell during the week, and the rupiah closed at 14,950 per US dollar on May 26, its weakest close since April 3. The decline was driven mainly by uncertainty over the US debt ceiling, which analysts said could be exhausted by early June.
Without Bank Indonesia intervention, analysts projected the rupiah could reach 15,100.
Rupiah weakness at these levels raises the cost of dollar-denominated feed ingredient imports into Indonesia.
cnbcindonesia.commaeMay 27, 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.
