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The rupiah traded near 14,680 to 14,700 per US dollar, close to an 11-month high, after Indonesia's Q1 2023 GDP grew 5.03% year on year, above the expected 4.95%. The dollar index also eased to around 101.30 as markets priced in a Fed policy pivot.
Analysts expected growth to slow as commodity prices eased.
A firmer rupiah lowers the local-currency cost of dollar-priced feed imports into Indonesia, while slowing commodity-driven growth points to softer demand ahead.
octaafrica.netMay 5, 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.
