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The rupiah held its strength despite a general decline in commodity prices in the prior week, supported by strong demand for Indonesian government bonds. The analysis argues the US debt ceiling should have a neutral impact on distant markets such as Indonesia.
It also warns the rupiah may be near its strength limit given sticky US inflation and seasonal external payment demand.
Currency stability helps keep Indonesian feed import costs predictable, but a reversal from current levels would raise the cost of dollar-priced ingredients.
bca.co.idMay 8, 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.
