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The rupiah weakened to Rp 15,450 per US dollar on March 8, close to its starting level for the year, after a shift in tone at the US Federal Reserve. Analysts expect the currency to stay under pressure, with some seeing it reach Rp 16,000 in the first half.
A weaker rupiah raises the local cost of dollar-priced feed ingredient imports for Indonesian buyers. The move supports a firmer USD/IDR and higher landed feed costs.
thejakartapost.comVincent Fabian ThomasMar 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.
